Baogang Group Begins 400,000-Ton Iron-Copper Mine Expansion, Extending China's Rare Earth Giant Into Copper

Highlights

• Baogang Group's Xinyue Mining subsidiary is expanding the Handagai underground mine in Inner Mongolia to 400,000 metric tons of ore per year by 2029
• Baogang owns 38.03% of China Northern Rare Earth Group, meaning this copper expansion extends a state-controlled network already dominant in rare earths
• The 400,000-ton figure measures ore mined, not copper recovered—at 1% grade and 85% recovery, annual copper output would be roughly 3,400 tons
• Northern Rare Earth has proposed transferring a 12.22% stake in the Baotou Rare Earth Products Exchange to Baogang, signaling deeper trading infrastructure consolidation
• No capital budget, reserve estimate, or offtake agreement has been disclosed, making Handagai a construction milestone rather than a confirmed commercial project