Column: Electric dreams turn into a nightmare for battery metals
A sector that was once racing to build new supply has been closing mines and deferring projects as low prices bite into the cost curve.
Aluminum Corporation of China (Chinalco) has taken a 45 percent majority stake in a rare earth joint venture in Jiangsu province, boosting such assets, which is part the firm’s strategic development plan, a company spokesman said on Friday.
But Chinalco, which is China’s top aluminium producer and the parent of Hong Kong- and Shanghai-listed Chalco, has no immediate plans to inject the rare earth assets into the listed aluminium arm , Chinalco spokesman Yuan Li said.
