China Knowledge reported that Aluminum Corp of China or Chinalco subsidiary China Rare Metals and Rare Earth Co Ltd has inked a letter of intent with Rhodia SA a French unit of Belgian group Solvay SA to expand the global rare earth market.

Pursuant to the agreement, the two sides will cooperate with each other in rare earth supply, technology and market development worldwide.

China Rare Metals and Rare Earth focuses on integrating and developing in Chinese rare earth industry while Rhodia supports the automotive, lighting and electronics industries with its rare earth-based specialty chemicals.

According to statistics about 95% of the world's rare earth is produced from China.

(Sourced from China Knowledge)