Three new rare earth industry projects to break ground in Baotou

The signing ceremony for a number of key projects was recently held in Baotou, including three rare earth industry projects to break ground in Baotou Rare-earth Hi-Tech Zone.

Northern Zhaobao Magnet (Inner Mongolia) Co., Ltd. plans to invest around RMB120 million (USD16.38 million) to build a 3,000tpa high-performance NdFeB magnet project. The company plans to rent a 6,000 sq.m. plant of Inner Mongolia Seagate Environmental Protection Technology Co., Ltd. and upgrade an existing high-end magnet production line for the new project. When fully operational, the project is expected to achieve annual sales revenue of RMB690 million (USD94.16 million) and tax contribution of RMB5.5 million (USD750,519).

The magnets electroplating production line project, with a total investment of RMB120 million (USD16.38 million), will be built by Tianjin Ruimaige Technology Co., Ltd., which specializes in R&D and production of NdFeB magnets. The first phase of the project, with investment of RMB20 million (USD2.73 million), will produce magnet components and modules and build the electroplating production line. The second phase, with planned investment of RMB100 million subject to market conditions, will include the production, assembly and sales of complete equipment. The company plans to partner with Shenyang Zhongbei Vacuum Technology Co., Ltd. to implement the phase two project.

Hunan Zhongzi Rare Earth Permanent Magnet Electromechanical Technology Co., Ltd. plans to invest RMB100 million (USD13.65 million) to build a production line for rare earth permanent magnet internal and external rotor motor, direct drive motor and permanent magnet motor remanufacturing, with an annual production capacity of 5,000 units. When reaching full capacity, the project is expected to generate profit of around RMB15 million (USD2.05 million) and achieve tax contribution of RMB5 million (USD682,290).