Chifeng Gold (06693.HK): Suspends Operations of the Lao Mengkang Rare Earth Project

Zhitong Finance APP reported that Chifeng Gold (06693.HK) announced that in 2022, the company established a joint venture, Chijin Xatung (formerly known as Shanghai Chijin Xatung Metal Resources Co., Ltd.) with Xiamen Tungsten Co., Ltd. (the company holds 51% of Chijin Xatung). The aim is to fully leverage the respective advantages of both parties to create a cooperative development platform for rare earth resources, enhance the companys comprehensive competitiveness in rare earth resource development, and promote the implementation and development of the company's rare earth resource business in Laos.