Northern Rare Earth to set up JV for 10ktpa Ce-containing NdFeB magnet project
2026-03-16 15:43:34 [Print]
China Northern Rare Earth (Group) High-Tech Co., Ltd. announced plans to form a joint venture with Ningbo Shuoteng New Materials Co., Ltd. to develop a 10,000tpa cerium-containing NdFeB magnet materials project, which will be undertaken by the newly established JV, Northern Shuoteng Magnetics (Inner Mongolia) Co., Ltd.
The JV will have a registered capital of RMB340 million (USD49.52 million), with China Northern Rare Earth contributing RMB116 million (USD16.89 million) for 34% stake, while Ningbo Shuoteng will contribute RMB225 million (USD32.77 million) for 66%.
The project involves a total investment of RMB595 million (USD86.66 million) and will proceed in two phases. Phase I, with an investment of RMB440 million (USD64.08 million), will build a 5,000tpa production line and supporting facilities while reserving plant space and utilities for Phase II. Phase II will invest RMB155 million (USD22.57 million) to add another 5,000tpa production line and related facilities. Each phase is expected to take around 20 months to complete.
The JV will have a registered capital of RMB340 million (USD49.52 million), with China Northern Rare Earth contributing RMB116 million (USD16.89 million) for 34% stake, while Ningbo Shuoteng will contribute RMB225 million (USD32.77 million) for 66%.
The project involves a total investment of RMB595 million (USD86.66 million) and will proceed in two phases. Phase I, with an investment of RMB440 million (USD64.08 million), will build a 5,000tpa production line and supporting facilities while reserving plant space and utilities for Phase II. Phase II will invest RMB155 million (USD22.57 million) to add another 5,000tpa production line and related facilities. Each phase is expected to take around 20 months to complete.
NdFeB Sintered Rough N45 Block EXW China
Unit:RMB/kg
China's praseodymium-neodymium oxide producers' number MoM output increase statistics by province by month
Unit: pcs
