List of qualified rare earth companies unveiled

China issued its first list of companies qualified to take part in the rare earths industry on Monday, which experts said was an indication of a new round of merger and restructuring in the industry.

The list includes seven companies: three from Shandong province, two from Jiangxi province, one from Gansu and one from Liaoning, according to a statement on the website of the Ministry of Industry and Information Technology. More companies are expected to be approved to enter the industry but no timeframe was given.

Securities Daily cited unnamed analysts as saying that the approved list was issued in accordance with the ministry’s requirement for accessing the industry which was released in August. The requirement lifted the threshold for entry to the industry, aiming to encourage mergers and restructuring in the industry.