(Yicai) Nov. 21 -- State conglomerate China Rare Earth Group is changing its leader for the first time since its establishment almost three years ago, promoting its general manager to chairman.

Liu Leiyun, the first GM of China Rare Earth, will succeed 63-year-old Ao Hong, the Jiangxi province-based rare-earth producer announced yesterday. The company did not disclose who will take over as the next GM.

Liu, 59, graduated from Tsinghua University with a degree in materials science and engineering.

Prior to joining China Rare Earth, he served as an executive at China Minmetals Corp. before the merger of its rare-earth business with those of Aluminum Corp. of China and Ganzhou Rare Earth Group in December 2021.

The three-year-old group is directly managed by the State-owned Assets Supervision and Administration Commission of the State Council, with the goal of enhancing the development of the rare-earth industry.

Before becoming chairman of China Rare Earth, Ao had a long tenure as vice GM at Aluminum Corp. of China (Chinalco). He brings over 40 years of experience in the nonferrous metals industry.

After the restructuring, the group owns two listed companies: China Rare Earth Resources and Technology, as well as Rising Nonferrous Metals Share. These subsidiaries cover all aspects of the rare-earth industry, from resource development to smelting, processing, and trade, according to the firm’s website.

Editor: Emmi Laine