Baotou Jinmeng Rare Earth has met conditions to break ground on the 3,000tpy rare earth concentrate separation line upgrade and transformation and 2,000tpy NdFeB scrap automatic recycling line project, and the environmental impact, safety and energy technology assessments for the project have already commenced, according to the Bureau of Industry and Information Technology of Baotou.

With total investment estimated at RMB205 million (USD29 million), the project is located at Baotou Metal Deep-Processing Park and is expected to finish construction in October 2024. Upon completion, the project would achieve annual production value of nearly RMB1.36 billion (USD192 million) and tax revenue of RMB13 million (USD1.84 million).