Baotou Huahong breaks ground on rare earth magnets project
2024-09-05 14:54:25 [Print]
Baotou Huahong New Material Technology Co., Ltd. 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.m, with a total investment of RMB700 million (USD98.57 million), including RMB400 million (USD56.33 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.
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.m, with a total investment of RMB700 million (USD98.57 million), including RMB400 million (USD56.33 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.
Neodymium Oxide 99.5%min FOB China
Unit:USD/mt
China's neodymium metal producers' output statistics by province by month
Unit: mt
