Baotou Golden Dragon commissions high-performance NdFeB magnet project

Golden Dragon Rare Earth New Materials (Baotou) Co., Ltd. has started production at its Phase I 5,000tpa high-performance NdFeB magnet project. With plant construction, equipment installation, and trial runs completed, the project is now operational. Once fully ramped up, it will increase the company's total magnet blank capacity to 20,000 tonnes annually.

The project is fully funded by Fujian Golden Dragon Rare-Earth Co., Ltd., a subsidiary of Xiamen Tungsten. Located in Baotou's Rare Earth High-Tech Zone, the project will supply high-performance magnets for wind power, electronics, energy-efficient motors and appliances, and new energy vehicles. Total investment is estimated at RMB462 million (USD64.34 million).