China Northern Rare Earth (Group) High-Tech Co., Ltd. produced 174,900 tonnes (REO equivalent) of rare earth smelting and separation products and 779,000 tonnes of rare earth functional materials in 2023, up by 24.21% and 15.67% respectively from the prior year, with the annual output of RE raw materials and functional materials again hitting a new high.

In 2023, the company produced 16,699.74t of rare earth oxides, 127,387.62t of rare earth salts, and 30,799.51t of rare earth metals, up by 30.24%, 22.86% and 26.79% year on year respectively. The annual production of magnetic materials and hydrogen storage materials increased by 31.32% and 9.67% YoY respectively to 49,961.25t and 1,803.42t, while that of polishing materials declined by 5.5% YoY to 26,146.68t.

In term of sales, the company sold 28,822.62t of rare earth oxides, 87,244.91t of rare earth salts, and 31,051.64t of rare earth metals, up by 21.5%, 30.93% and 30.27% year on year respectively. The annual sales of magnetic materials and hydrogen storage materials increased by 35.97% and 6.18% YoY respectively to 51,131.20 tonnes and 1,902.97 tonnes, while that of polishing materials declined by 7.53% YoY to 25,674.81 tonnes.