JL MAG H1 rare earth magnets output and sales up more than 40%
2024-08-29 14:35:21 [Print]
JL MAG Rare-Earth Co., Ltd. reported an operating revenue of RMB3.36 billion (USD472 million) in the first half of 2024, stable from the prior year period, according to the company's semi-annual report.
During the first half, JL MAG kept new projects moving forward with a capacity utilization rate of more than 90%, and it saw a steadily growing market share with H1 production and sales of high-performance rare earth magnets up by over 40% YoY. The company's H1 production of rare earth magnets using grain boundary infiltration technology increased by 52% YoY and accounted for 88% of the total production during the period.
As new capacities are under construction, including 12,000tpa in Baotou, 3,000tpa in Ningbo, and other capacities planned in Ganzhou, JL MAG expects to have capacity of 40,000tpa of high-performance rare earth magnets and magnetic modules coming on stream by 2025.
During the first half, JL MAG kept new projects moving forward with a capacity utilization rate of more than 90%, and it saw a steadily growing market share with H1 production and sales of high-performance rare earth magnets up by over 40% YoY. The company's H1 production of rare earth magnets using grain boundary infiltration technology increased by 52% YoY and accounted for 88% of the total production during the period.
As new capacities are under construction, including 12,000tpa in Baotou, 3,000tpa in Ningbo, and other capacities planned in Ganzhou, JL MAG expects to have capacity of 40,000tpa of high-performance rare earth magnets and magnetic modules coming on stream by 2025.
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