All in my opinion of course but the way Shenghe were talking at...

All in my opinion of course but the way Shenghe were talking at the recent Danish Greenland Day. Im not sure they intend to take over.
Their CEO seemingly stated quite a bit about the impressive co-operative partnership between Shenghe and GGG and their favourable outlook on a productive working future with GGG behind the helm of the operation.
It did come across as a considerable effort to reassure listeners. That Shenghe saw the partnership as one that will always stay and they in fact had little interest in much else eg taking over control.
Now sure this could be fake. But I can see why Shenghe needs GGG. It has enough operations in China to do business with. What its trying to do now is truly expand beyond and seemingly have two external arms in its operation that effectively supply exChina. One, with mountain pass, set to supply the US.The other with GGG set to supply Europe and surrounds.

Now this makes some sense to me. If they really do intend to set up full refinement and finishing plants outside China as they explained. They will want to work in with their sales partners. A full Chinese REE operation will be seen as such and possibly dubiously. Like we have seen recently in the trade talks because the US fears the Chinese government influencing Chinese companies to do their bidding and cut supplies of REE to the US.
However a partnership support role with existing healthy liaisons where a western presence operates the facility and instead has Shenghe as a large stakeholder partner. That could well be taken much more openly by western counter[parts. Think about it. Western control with Chinese expertise. Its an impressive combination and if they play their cards right like they are already doing with MP. It could work out really well and they could quite easily cut out processing issues in China and state control almost entirely. Which is something they have been working on since a few years ago when the Chinese government burnt Shenghe a little by allowing the state backed REE companies preference on production output totals over Shenghes permitted allotment.

So I am starting to suspect less and less that a take over may transpire in time. They have enough stake up to 60% and GGG as managing the enterprise working at the helm works in their best interests. Its a brilliant plan and concerted effort in world REE supply via removing state run stigma and control while supplying the world in developing a healthy partnership with the best two REE resources they can find worldwide