Shenghe Resources
{{Short description|Chinese partly state-owned rare earths mining and processing company}}
{{Infobox company
| name = Shenghe Resources Holding Co., Ltd.
| native_name = 盛和資源控股股份有限公司
| native_name_lang = zh
| type = Public; partly state-owned
| traded_as = {{SSE|600392}}
| industry = Mining
| founded = {{start date and age|1998}}
| hq_location_city = Chengdu
| hq_location_country = China
| key_people = Hu Zesong, chairman
| owner = Ministry of Natural Resources
| website = {{Official URL}}
}}
Shenghe Resources ({{lang-zh|盛和资源}}) is a Chinese partly state-owned rare earths mining and processing company founded in 1998.{{Cite web |title=The Top Companies Behind the Rare Earth Industry |url=https://wirescreen.ai/blog/rare-earth |access-date=2024-10-28 |website=wirescreen.ai |publisher=The Wire China |language=en}}{{Cite web |title=Shenghe Resources Holding Company Limited |url=https://platform.wirescreen.ai/organization/1ce396dd-8bbf-5450-b498-c3bb9487c4d1 |access-date=2024-10-28 |website=wirescreen.ai |publisher=The Wire China}} The company is listed on the Shanghai Stock Exchange and its largest shareholder is the Ministry of Natural Resources.{{Cite news |last=Bradsher |first=Keith |author-link=Keith Bradsher |date=October 26, 2024 |title=China Tightens Its Hold on Minerals Needed to Make Computer Chips |url=https://www.nytimes.com/2024/10/26/business/china-critical-minerals-semiconductors.html |access-date=October 28, 2024 |work=The New York Times}} Shenghe Resources is affiliated with Aluminum Corporation of China, which maintains a seat on its board and is involved its strategic decision-making.
History
Shenghe Resources, previously referred to as Taiyuan Technology Tiansheng Science and Technology Company Limited, was listed on the Shanghai Stock Exchange in May 2003.{{cite web | title="奔跑"的稀土｜海内外稀土资源双布局，盛和资源股价为何"过山车"？ | website=财华网(财华社) | date=2021-11-17 | url=https://www.finet.hk/newscenter/news_content/6194abc353243c2e6bbdd01c | language=zh | access-date=2024-10-28 | archive-date=2021-11-17 | archive-url=https://web.archive.org/web/20211117093043/https://www.finet.hk/newscenter/news_content/6194abc353243c2e6bbdd01c | url-status=live }} In December 2012, TaiGong Tiansheng finalized the major asset reorganization plan by divesting all assets and liabilities to Shanxi Coke Group Co., Ltd. and issuing shares to the shareholders of Leshan Shenghe Rare Earth Co., Ltd. to acquire 99.9999% of the equity of Leshan Shenghe Rare Earth Co. In 2013, Leshan Shenghe Rare Earth Co., Ltd. executed a reverse takeover and adopted its current name.{{cite web |date=2019-08-07 |title=盛和资源：海内外并购 志在成为稀土行业龙头 |url=https://company.stcn.com/gsxw/202003/t20200326_1499207.html |access-date=2024-10-28 |website=Securities Times |language=zh}}{{cite web |date=2019-08-07 |title=盛和资源：持续并购重组 实现全产业链布局 |url=https://company.stcn.com/gsxw/202003/t20200326_1499205.html |access-date=2024-10-28 |website=Securities Times |language=zh}}
In 2016, Shenghe Resources purchased a 10 percent stake in Australian mining firm Energy Transition Minerals.{{Cite news |last=Hui |first=Mary |date=February 19, 2021 |title=A Chinese rare earths giant is building international alliances worldwide |url=https://qz.com/1971108/chinese-rare-earths-giant-shenghe-is-building-global-alliances/ |access-date=July 13, 2021 |work=Quartz |archive-date=July 12, 2021 |archive-url=https://web.archive.org/web/20210712191855/https://qz.com/1971108/chinese-rare-earths-giant-shenghe-is-building-global-alliances/ |url-status=live }} In 2019, the company partnered with China National Nuclear Corporation to import and process uranium and thorium from the Kvanefjeld mine in Greenland. Shenghe Resources is a minority shareholder and the sole purchaser of MP Material's rare earth concentrate, mined from the Mountain Pass mine in California.{{cite web |date=9 December 2020 |title=MP Materials Corp Form S-1 Registration Statement |url=https://www.sec.gov/Archives/edgar/data/1801368/000119312520313937/d48477ds1.htm |access-date=12 August 2021 |website=U.S. Securities and Exchange Commission |page=9 |archive-date=13 December 2021 |archive-url=https://web.archive.org/web/20211213213907/https://www.sec.gov/Archives/edgar/data/1801368/000119312520313937/d48477ds1.htm |url-status=live }}{{Cite news |last1=Hornby |first1=Lucy |last2=Sanderson |first2=Henry |date=June 4, 2019 |title=Rare earths: Beijing threatens a new front in the trade war |url=https://www.ft.com/content/3cd18372-85e0-11e9-a028-86cea8523dc2 |url-access=subscription |access-date=October 28, 2024 |work=Financial Times |archive-date=May 9, 2024 |archive-url=https://web.archive.org/web/20240509213750/https://www.ft.com/content/3cd18372-85e0-11e9-a028-86cea8523dc2 |url-status=live }}
In 2022, Shenghe Resources purchased a 20 percent stake in Australian mining firm Peak Rare Earths.{{Cite news |last=Swagath |first=B. V. |date=2022-02-14 |title=Shenghe Resources to acquire 20% stake in Peak Rare Earths |url=https://www.nsenergybusiness.com/deals/shenghe-resources-acquires-stake-peak-rare-earths/ |access-date=2024-10-28 |website=NS Energy |language=en-US}}{{Cite news |last=Hui |first=Mary |date=April 4, 2023 |title=China is on a global hunt for rare earths |url=https://qz.com/china-global-hunt-for-rare-earths-1850224816 |access-date=October 28, 2024 |work=Quartz |archive-date=September 1, 2024 |archive-url=https://web.archive.org/web/20240901205302/https://qz.com/china-global-hunt-for-rare-earths-1850224816 |url-status=live }} In 2024, the company acquired half of Peak Rare Earths' ownership in the Ngualla project in Tanzania.{{Cite news |date=July 23, 2024 |title=China's Shenghe to acquire half of Peak Rare Earth's Tanzania project |url=https://www.reuters.com/markets/deals/chinas-shenghe-acquire-half-peak-rare-earths-tanzania-project-2024-07-24/ |access-date=October 28, 2024 |work=Reuters |archive-date=September 25, 2024 |archive-url=https://web.archive.org/web/20240925003509/https://www.reuters.com/markets/deals/chinas-shenghe-acquire-half-peak-rare-earths-tanzania-project-2024-07-24/ |url-status=live }}
In 2023, Shenghe Resources purchased a 9.9 percent stake in Australian mining company Vital Metals and also agreed to buy its entire stockpile of rare earth materials from its Nechalacho mine in Northwest Territories.{{Cite news |last=Lamberink |first=Liny |date=December 19, 2023 |title=Once touted as solution to China in rare earth market, N.W.T. project now taking Chinese investment |url=https://www.cbc.ca/news/canada/north/nechalacho-chinese-investment-1.7064072 |access-date=October 28, 2024 |work=CBC News |archive-date=October 9, 2024 |archive-url=https://web.archive.org/web/20241009062311/https://www.cbc.ca/news/canada/north/nechalacho-chinese-investment-1.7064072 |url-status=live }}{{Cite news |last=He |first=Fred |date=2024-01-22 |title=China is moving up the rare earth value chain. The West is trying to catch up |url=https://www.scmp.com/news/china/science/article/3249249/china-moving-rare-earth-value-chain-west-trying-catch |access-date=2024-10-28 |website=South China Morning Post |language=en |archive-date=2024-10-04 |archive-url=https://web.archive.org/web/20241004225708/https://www.scmp.com/news/china/science/article/3249249/china-moving-rare-earth-value-chain-west-trying-catch |url-status=live }} In June 2024, the Canadian government blocked the sale of the stockpile on national security grounds.{{Cite news |last=Lorinc |first=Jacob |date=June 17, 2024 |title=Canada Blocks Chinese Rare Earths Deal in Trudeau-Led Crackdown |url=https://www.bloomberg.com/news/articles/2024-06-17/canada-blocks-chinese-rare-earths-deal-in-trudeau-led-crackdown |access-date=October 28, 2024 |work=Bloomberg News}}
In April 2024, Shenghe Resources stated that its U.S. affiliate, MP Materials, had stopped shipping minerals for processing due to the tariffs in the second Trump administration.{{Cite web |last=Kawase |first=Kenji |date=April 21, 2025 |title=U.S. miner halts rare-earth exports to China due to tariff war |url=https://asia.nikkei.com/Economy/Trade-war/U.S.-miner-halts-rare-earth-exports-to-China-due-to-tariff-war |access-date=2025-04-23 |website=Nikkei Asia |language=en}}
Operations
- Leshan Processing Facility (China): The company’s original refining base in Sichuan Province processes rare earth ores into oxides and metals. It includes facilities for solvent extraction and alloy manufacturing.{{cite web |date=2019-08-07 |title=盛和资源：持续并购重组 实现全产业链布局 |url=https://company.stcn.com/gsxw/202003/t20200326_1499205.html |access-date=2024-10-28 |website=证券时报网 |language=zh}}
- Ngualla Rare Earth Project (Tanzania): Shenghe owns 50% of this high-grade bastnaesite deposit through its JV with Peak Rare Earths. It is planned to produce neodymium and praseodymium (NdPr) for magnet supply chains.{{Cite news |title=China's Shenghe to acquire half of Peak Rare Earth's Tanzania project |url=https://www.reuters.com/markets/deals/chinas-shenghe-acquire-half-peak-rare-earths-tanzania-project-2024-07-24/}}
References
External links
- {{Official website}}
{{Mining and metal companies of China}}
{{authority control}}
Category:Companies listed on the Shanghai Stock Exchange
Category:Companies based in Chengdu
Category:Government-owned companies of China