Northern Rare Earth to set JV for 3ktpa NdFeB magnets project
2024-10-30 15:49:48 [Print]
China Northern Rare Earth (Group) High Tech Co., Ltd. announced that it plans to invest RMB40 million (USD5.61 million) to set up a joint venture with Ningbo Zhaobao Magnet Co., Ltd., Suzhou Torin Drive Equipment Co., Ltd., and Ningbo Souwest Magnetech Development Co., Ltd.
The proposed joint venture will build a 3,000tpa high-performance NdFeB magnets project in Baotou Rare Earth High-tech Industrial Development Zone for a total investment of approximately RMB120 million (USD16.83 million), and the construction is scheduled to be completed by late May 2025.
The proposed joint venture will build a 3,000tpa high-performance NdFeB magnets project in Baotou Rare Earth High-tech Industrial Development Zone for a total investment of approximately RMB120 million (USD16.83 million), and the construction is scheduled to be completed by late May 2025.
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