Buffett buying China Rare Earth?

It makes some sense since he's invested in a Chinese car company that needs rare earth elements, but at this point I think it's more rumor than anything. The impetus for this rumor was the halting of China Rare Earth (0769.HK) for a share placement.

Rare hopes for a Buffett bonanza

Rumors that US billionaire Warren Buffett will take part in a share placement by China Rare Earth (0769) has raised hopes the firm may be the next to get the "Midas touch" after PetroChina (0857) and BYD (1211).
The rare earth and refractory products maker is selling 100 million new shares to raise HK$395 million, Reuters reported.

At HK$3.95 each, the offer is a 10 percent discount to the stock's last closing price of HK$4.39 on Wednesday.

An over-allotment issue of 20 million shares could boost the total amount HK$474 million. Analysts estimate CRE's share price to soar after it resumes trading because of the "Buffett effect."