Despite geopolitical tensions, China’s rare earth producers have profitable first half

China’s rare earth producers have reported or anticipated hefty first-half profits, with Beijing’s use of the strategically critical minerals as leverage in trade relations with Japan and the United States not appearing to impede normal activity. Shenzhen-listed China Rare Earth Resources and Technology saw its first-half net profit surge 46.53 per cent year on year to 237 million yuan (US$35.1 million), the company said in an exchange filing on Friday. Its price-to-earnings ratio, an indicator of investor expectations, was 636.88 in February and currently stands at around 254, still very high compared with the market average. The same ratio for…