Zhongyu Magnetic Material commences construction of 2000tpy NdFeB RE magnetic materials project

On the morning of June 5, a groundbreaking ceremony was held in Fuyang Economic Development Zone for Zhongyu Magnetic Material 2,000tpy high-performance NdFeB rare earth permanent magnetic material project.

With total investment of RMB300 million (USD42.11 million), including RMB270 million (USD37.Asian Metal CopyrightOn the morning of June 5, a groundbreaking ceremony was held in Fuyang Economic Development Zone for Zhongyu Magnetic Material 2,000tpy high-performance NdFeB rare earth permanent magnetic material project.Asian Metal Copyright90 million) for fixed assets, from Anhui Zhongyu Magnetic Material Technology Co.Asian Metal Copyright, the project is expected to bring in production value of RMB540 million USD75.Asian Metal Copyright, Ltd.Asian Metal Copyright, the project is expected to bring in production value of RMB540 million USD75.Asian Metal Copyright, the project is expected to bring in production value of RMB540 million (USD75.Asian Metal Copyright .Asian Metal Copyright79 million) and taxation of no less than RMB10.Asian Metal Copyright90 million for fixed assets, from Anhui Zhongyu Magnetic Material Technology Co.Asian Metal Copyright50 million (USD1.Asian Metal Copyright50 million USD1.Asian Metal Copyright47 million) per year when in operation.

.Asian Metal Copyright79 million and taxation of no less than RMB10Asian Metal Copyright