Mengkang rare earth project in Laos suspended amid policy changes

A joint venture between two of China’s mining heavyweights has pulled the plug on its rare earth project in Laos, effective August 8, 2026. The Mengkang project, controlled by Chifeng Jilong Gold Mining and Xiamen Tungsten, was suspended following board approval on August 7, with the companies citing the need to comply with evolving regulatory policies and ensure corporate social responsibility. What happened at Mengkang The Mengkang project sits in Xiangkhouang Province, Laos, and represents the only rare earth asset held by the Chifeng-Xiamen joint venture. Chifeng Gold holds 51% of the operation, with Xiamen Tungsten controlling the remaining 49%. The pair acquired a 90% stake in the project for roughly $19 million back in March 2024. The project was still in its trial-mining stage when the suspension came down. In 2025, Mengkang produced 998.56 metric tons of rare earth products. That output generated a net loss of approximately 54 million yuan for Chifeng Gold, representing about 1.75% of Chifeng Gold’s consolidated net profit. First-quarter 2026 output plummeted to just 63.6 metric tons, a fraction of what the project had managed in the prior year. The Laos policy puzzle Laos...