Giastar Magnet begins phase one production at 100ktpa sintered NdFeB magnets project
2023-08-02 11:55:14 [Print]
On July 28, Giastar Magnet commenced production for the first phase of its 100,000tpa sintered NdFeB magnets project.
The project is located at Mianyang High-Tech Industrial Development Zone and consists of three phases, with total investment of RMB28 billion (USD3.90 billion) from Giastar Magnet. Phase one of the project, with capacity of 25,000t of sintered NdFeB magnets, started trial production in May and saw first finished product in late June. In 2023, the phase one is expected to generate annual production value of RMB500-600 million (USD69.61-83.53 million) and create nearly 800 jobs.
The project is located at Mianyang High-Tech Industrial Development Zone and consists of three phases, with total investment of RMB28 billion (USD3.90 billion) from Giastar Magnet. Phase one of the project, with capacity of 25,000t of sintered NdFeB magnets, started trial production in May and saw first finished product in late June. In 2023, the phase one is expected to generate annual production value of RMB500-600 million (USD69.61-83.53 million) and create nearly 800 jobs.
PrNd Mischmetal Pr 25%, Nd 75% EXW China
Unit:RMB/mt
China's rare earth seperation plants' operating rate statistics by province by month
Unit: %
