Longyan city to build 100-billion rare earth industry cluster
2019-09-10 17:03:06 [Print]
On 7 September, the Fujian Longyan rare earth industry matchmaking symposium and investment projects promotion conference were held in Xiamen. On the same day, contracts for seven rare earth industry investment projects with a total investment of RMB1.52 billion (USD0.21 billion) were signed with companies from Xiamen, Shanghai, Wuhan, Guangdong and Hong Kong. Wu Tianfu, Deputy Director of Fujian Provincial Department of Industry and Information Technology stated that Fujian will endeavor to build Longyan's rare earth industry into an 100-billion rare earth industry cluster during the 14th Five-Year Plan as the current rare earth deep-processing technology is leading in the world with bright prospects.
It's learnt that Fujian's reserves of ionic rare earth resources ranks top 3 in China and Longyan is an important producing area, owning over 2 million tons of possible reserves and taking more than 50% of the province's total. Rare earth resources have been confirmed in all seven counties (cities or districts) of Longyan city.
In recent years, Longyan city protects, develops and utilizes rare earth resources scientifically, applies efficiently, innovates and transforms the industry, strongly extends industry chains, boosts fine and deep processing of rare earth industry and prioritizes rare earth permanent magnet industry chain, rare earth luminescent material industry chain and rare earth catalyst industry chain. The city's production value was RMB10.1 billion (USD1.42 billion) in 2018, up from RMB617 million (USD86.71 million) in 2010 with an average annual growth of 41.9%. In the first seven months of 2019, its production value reached RMB8 billion (USD1.12 billion) and increased by 29.6%, which promoted sustainable development of rare earth industry.
It's learnt that Fujian's reserves of ionic rare earth resources ranks top 3 in China and Longyan is an important producing area, owning over 2 million tons of possible reserves and taking more than 50% of the province's total. Rare earth resources have been confirmed in all seven counties (cities or districts) of Longyan city.
In recent years, Longyan city protects, develops and utilizes rare earth resources scientifically, applies efficiently, innovates and transforms the industry, strongly extends industry chains, boosts fine and deep processing of rare earth industry and prioritizes rare earth permanent magnet industry chain, rare earth luminescent material industry chain and rare earth catalyst industry chain. The city's production value was RMB10.1 billion (USD1.42 billion) in 2018, up from RMB617 million (USD86.71 million) in 2010 with an average annual growth of 41.9%. In the first seven months of 2019, its production value reached RMB8 billion (USD1.12 billion) and increased by 29.6%, which promoted sustainable development of rare earth industry.
