Northern Rare Earth to increase stake in Zhongxin Antai
2024-06-21 14:01:56 [Print]
China Northern Rare Earth (Group) High-Tech Co., Ltd. plans to buy 18.84% stake in Baotou Zhongxin Antai Magnetic Industry Co., Ltd. for RMB21.37 million (USD2.94 million), and it also announced a capital increase of RMB40 million (USD5.51 million) in Zhongxin Antai, as the company seeks to boost production capacity of rare earth metals including praseodymium, neodymium, lanthanum and cerium.
Upon completion, Northern Rare Earth will become the biggest shareholder and controlling shareholder of Zhongxin Antai with a 40% equity interest, and Zhongxin Antai will change its name to Northern Zhongxin Magnetic Industry Co., Ltd.
Zhongxin Antai is mainly engaged in production of high-purity rare earth metals through electrolysis of Pr-Nd oxides and La-Ce oxides, with annual production capacities of 3,300 tonnes of praseodymium and neodymium metals and 3,700 tonnes of lanthanum and cerium metals.
Upon completion, Northern Rare Earth will become the biggest shareholder and controlling shareholder of Zhongxin Antai with a 40% equity interest, and Zhongxin Antai will change its name to Northern Zhongxin Magnetic Industry Co., Ltd.
Zhongxin Antai is mainly engaged in production of high-purity rare earth metals through electrolysis of Pr-Nd oxides and La-Ce oxides, with annual production capacities of 3,300 tonnes of praseodymium and neodymium metals and 3,700 tonnes of lanthanum and cerium metals.
Lanthanum Oxide 99.9%min EXW China
Unit:RMB/mt
China lanthanum-cerium mischmetal producers' operating rate statistics by province by month
Unit: %
