Baotou to accelerate rare earth new material industry and application
2024-01-08 14:16:51 [Print]
China's Baotou aims to expand its rare earth industrial scale to over 100 billion yuan (13.97 billion US dollars) in 2024 and become the country's largest rare earth new material base and the world's leading rare earth application center, according to the guidelines recently issued by the municipal government.
According to the guidelines, Baotou will increase the production capacity of rare earth raw materials to realize 15,000tpa of recycled material and 110,000tpa smelting and separation, and expects an annual production value of RMB40 billion (USD5.59 billion) in 2024. The city also aims to increase the industrial scale of new rare earth materials to RMB20 billion (USD2.79 billion) in 2024 by establishing annual production capacity of 150,000t of magnetic materials, 7,000t of hydrogen storage materials, 80,000t of alloy materials, 40,000t of polishing materials, 20,000t of catalytic materials and auxiliaries. The application of rare earths in various industries should be expanded and deepened and the production value of permanent magnet motor should reach RMB5 billion (USD699 million) in 2024, and efforts will be made to expand the industrial scale for rare earth application to RMB40 billion (USD5.59 billion) this year.
According to the guidelines, Baotou will increase the production capacity of rare earth raw materials to realize 15,000tpa of recycled material and 110,000tpa smelting and separation, and expects an annual production value of RMB40 billion (USD5.59 billion) in 2024. The city also aims to increase the industrial scale of new rare earth materials to RMB20 billion (USD2.79 billion) in 2024 by establishing annual production capacity of 150,000t of magnetic materials, 7,000t of hydrogen storage materials, 80,000t of alloy materials, 40,000t of polishing materials, 20,000t of catalytic materials and auxiliaries. The application of rare earths in various industries should be expanded and deepened and the production value of permanent magnet motor should reach RMB5 billion (USD699 million) in 2024, and efforts will be made to expand the industrial scale for rare earth application to RMB40 billion (USD5.59 billion) this year.
