A Big Deal: Aluminum Corp. of China to Invest $1.5 Billion for Majority Stake in Rare Earth Company (ACH)

As far as I know this is the largest rare earth investment to date. Molycorp's August IPO netted MCP $379.2 million.
From Chinavestor:

Aluminum Corp. of China (NYSE:ACH), China's biggest producer of the industrial metal, said it will make investments of not less than $1.5 billion to acquire a majority stake of Jiangxi Rare Earth and Rare Metals Tungsten Group. The agreement was reached Sunday at the Expo Central China 2010.
 

Under the terms of the agreement, Aluminum Corp. of China (NYSE: ACH) will help Jiangxi Rare Earth and Rare Metals Tungsten Group develop rare earth minerals resources over the next three to five years....