JL MAG breaks ground on phase III rare earth magnet project

On July 9, JL MAG (Baotou) Technology Co., Ltd. began construction of the third phase of its rare earth permanent magnet project in Baotou's Rare Earth High-Tech Zone. With a total investment of RMB1.05 billion (USD146 million) and covering 115Mu (7.67 hectares), the phase III will build smart manufacturing workshops, production lines, and supporting infrastructure such as a substation, adding production capacity of 20,000 tonnes per annum of high-performance rare earth permanent magnets.

Once completed, JL MAG's Baotou base will have an annual production capacity of 40,000 tonnes of high-performance rare earth magnets, further cementing the company's position as the world's largest rare earth magnet producer and supporting Baotou's development as a leading rare earth industry hub.