Shenghe Resources Holdings Co., Ltd. announced on June 15 that it signs a strategic cooperation framework agreement with its dominant shareholder, Comprehensive Mineral Resources Utilization Institute of Chinese Academy of Geological Sciences (CAGS), and Lomon Billions Group (LB Group). The three parties plan to carry out substantial cooperation in the fields of industrial coordination and S&T achievement transformation, based on their rational and efficient utilization of resources and requirements on strategic development. Starting from cooperation between LB Group's and Shenghe Resources' beach sand concentrator plants, they would work together for improvement of raw material supply, technology upgrading, and talent exchange & training, etc. In detail, LB Group would give priority to supply monazite and other rare earth resources to Shenghe Resources, while Shenghe Resources would provide titanium concentrate and zircon sand to LB Group preferentially, supporting each other's main business development.