A joint venture between Chifeng Jilong Gold Mining and Xiamen Tungsten has suspended its Mengkang rare earth project in Laos, effective August 8, 2026, following board approval. The project, located in Xiangkhouang Province, was acquired for approximately $19 million in March 2024 and was still in the trial-mining stage. In 2025, Mengkang produced 998.56 metric tons of rare earth products, generating a net loss of about 54 million yuan for Chifeng Gold, representing approximately 1.75% of its consolidated net profit. First-quarter 2026 output plummeted to just 63.6 metric tons. Mining rights and permits are currently in the renewal process, and both companies have indicated they will be closely monitoring Laotian policy developments before making any moves to restart operations.
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