6ktpa NdFeB blank project begins production in Bayan Obo Mining District

On November 23, CoCo (Baotou) Rare Earth Permanent Magnet Technology Co., Ltd. produced the first furnace of rare earth magnet blank at its rare earth new material project in Bayan Obo Mining District, marking the formal start of production.

The company signed an agreement this August to develop the 6,000tpa high performance rare earth magnet material project at Bayan Obo Mining District.

Covering an area of 20Mu (1.33 hectares), the project will build production lines with a total capacity of 6,000tpa of NdFeB blank and associated facilities in two phases. The production line put into operation this time has a capacity of 3,000tpa of NdFeB blank, a magnet with oxygen content of less than 500ppm, high magnetic energy product, high thermal stability, high corrosion resistance and high consistency, which is widely used in wind power generation, measurement instruments, aerospace navigator, small and special electric machine, etc. When the project becomes fully operational, it is expected to achieve an annual operating revenue of RMB1.5 billion (USD210 million).