Commencement ceremony for Golden Dragon Rare-Earth's magnetic materials production base phase III expansion project held
2021-05-26 17:14:53 [Print]
On the morning of 25 May, the commencement ceremony for the expansion project of Golden Dragon Rare-Earth's 20,000-ton magnetic materials production base (phase III with 4,000 tons) was held.
With a planned total investment of RMB3 billion (USD0.47 billion) and a land area of 280mu, Changting Golden Dragon Rare-Earth 20,000-ton magnetic materials production base is a key investment project of Xiamen Tungsten in Longyan for rare earth deep processing applications. After reaching designed production capacity, the project is estimated to record annual production value of RMB5 billion (USD0.78 billion) and tax of RMB450 million (USD70.25 million). By now, the first phase and second phase, the construction of which was completed, own an annual production capacity of 6,000 tons of high-performance rare earth permanent magnetic materials.
The expansion project of phase III will construct 4,000-ton magnetic materials production lines based on a planned total investment of RMB420 million (USD65.66 million) and a construction area of 25,600 square meters. After completion of the project, the total annual production capacity will reach 10,000 tons. With a construction period of 18 months, the construction is expected to come to an end before December 2022.
With a planned total investment of RMB3 billion (USD0.47 billion) and a land area of 280mu, Changting Golden Dragon Rare-Earth 20,000-ton magnetic materials production base is a key investment project of Xiamen Tungsten in Longyan for rare earth deep processing applications. After reaching designed production capacity, the project is estimated to record annual production value of RMB5 billion (USD0.78 billion) and tax of RMB450 million (USD70.25 million). By now, the first phase and second phase, the construction of which was completed, own an annual production capacity of 6,000 tons of high-performance rare earth permanent magnetic materials.
The expansion project of phase III will construct 4,000-ton magnetic materials production lines based on a planned total investment of RMB420 million (USD65.66 million) and a construction area of 25,600 square meters. After completion of the project, the total annual production capacity will reach 10,000 tons. With a construction period of 18 months, the construction is expected to come to an end before December 2022.
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