Northern Rare Earth sees stronger sales results for Q1-Q3

China Northern Rare Earth (Group) High-Tech Co., Ltd. reported strong production and sales results for the first three quarters of 2024, with production of rare earth smelting and separation products, rare earth metals and functional materials up by 12.95%, 39.46%, and 21.35% respectively from the year ago period, and sales rising by 20.45%, 27.90% and 19.65% respectively against the same period of last year.

From January to September, the company produced 11,424.26t of rare earth oxides, down by 14.89%, 105,863.13t of rare earth salts, up by 11.15%, 28,660.6t of rare earth metals, up by 39.46%, 44,918.04t of magnetic materials, up by 30.03%, 19,324.21t of polishing materials, up by 5.72%, and 1,583.36t of hydrogen storage materials, up by 11.41%, all on a year over year basis.

Sales for the first three quarters included 24,752.40t of rare earth oxides, up by 44.77%, 68,305.28t of rare earth salts, up by 11.07%, 27,662.78t of rare earth metals, up by 27.90%, 44,680.89t of magnetic materials, up by 28.57%, 19,674.19t of polishing materials, up by 4.14%, and 1,543.23t of hydrogen storage materials, up by 7.73%, all compared with the prior year period.