On 7th July 2011, NFC signed Investors Agreement for NFC Rare Earth Group (Guangdong) Co., Ltd. with Yixing Xinwei Group Co., Ltd, marking the formal cooperation startup between the two parties in rare earth industry.

According to the agreement, the two parties will jointly invest and register a new company named NFC Rare Earth Group in Guangdong province with a registered capital of 1 billion RMB and a shareholding structure of 51 (NFC):49 (Xinwei Group). The new company is established aiming at integrate and control a total rare earth separation capacity of 17,000t/a in Jiangsu and Guangdong provinces, becoming an advanced rare earth separation company in China. The further goal of NFC Rare Earth Group is to complete the industrial chain and become an important rare earth product provider and functional materials producer in global market, promoting the sustainable and healthy development of rare earth industry.

Xinwei Group is a renowned cross-regional Chinese private enterprise, who has established a relatively comprehensive industrial chain including rare earth mining, smelting, separating and processing, controlling rare earth separation capacity about 10,000t/a.