Hunan Rare Earth Advanced Materials Industry Park kicks off construction

The groundbreaking ceremony for Hunan Rare Earth Advanced Materials Industry Park and the associated ore utilization project was held in Lingling, Yongzhou on November 28.

So far, eight projects were signed to break ground at Hunan Rare Earth Advanced Materials Industry Park which has a planned land area of around 2,400Mu (160 hectares). The first phase of the industry park, with investment estimated at RMB3 billion (USD421 million), is expected to achieve annual production value of more than RMB10 billion (USD1.4 billion) and tax revenue of over RMB900 million (USD126 million).

The groundbreaking of the industrial park marks the early fruit of strategic cooperation between Hunan province and China Rare Earth Group, and would pave the way for the construction of other projects including the 40,000tpa monazite processing project and 10,000tpa rare earth separation project.