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  • Baotou Huahong breaks ground on rare earth magnets project

    2024-09-05 14:54:25   [Print]
    Baotou Huahong New Material Technology Co.Asian Metal CopyrightBaotou Huahong New Material Technology Co.Asian Metal Copyright, Ltd.Asian Metal Copyright, Ltd.Asian Metal Copyright recently held the groundbreaking ceremony for the phase one of a 20,000tpa high performance rare earth magnets project located at Baotou Rare Earth High-Tech Industrial Development Zone.

    The project, consisting of two phases, will cover a total land area of around RMB140Mu (9.33 hectares) and a floor area of about 60,000 sq.Asian Metal Copyright, Ltd.Asian Metal Copyrightm, with a total investment of RMB700 million (USD98.Asian Metal Copyright When reaching full capacity of 20,000tpa, the project would achieve annual sales revenue of nearly RMB3 billion USD422 million along with tax revenue of RMB200 million USD28.Asian Metal Copyright57 million), including RMB400 million (USD56.Asian Metal Copyright57 million, including RMB400 million USD56.Asian Metal Copyright33 million) for the first phase which is expected to become operational by the end of 2025.

    When reaching full capacity of 20,000tpa, the project would achieve annual sales revenue of nearly RMB3 billion (USD422 million) along with tax revenue of RMB200 million (USD28.16 million), and it is expected to create more than 600 local jobs.

    .Asian Metal Copyright, LtdAsian Metal Copyright
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