JL MAG to invest RMB700 million in building rare earth magnet production base project
2022-04-01 14:53:24 [Print]
On March 30, JL MAG announced that it planned to invest RMB700 million (USD110 million), via fully owned subsidiary JL MAG (Baotou) Technology Co., Ltd., in constructing a high-performance rare earth magnet production base project (phase two).
To be located within the subsidiary's plant site, the planned project will be built with new magnet workshop and machinery processing workshop as well as supportive electricity, water, gas supply facilities, will be equipped with new magnet production lines, machinery processing equipment, packing equipment and surface treatment equipment. When the project goes into nameplate-capacity operation, it will have an annual production capacity of 12,000t high-end magnet. Project construction cycle is expected to be two years.
To be located within the subsidiary's plant site, the planned project will be built with new magnet workshop and machinery processing workshop as well as supportive electricity, water, gas supply facilities, will be equipped with new magnet production lines, machinery processing equipment, packing equipment and surface treatment equipment. When the project goes into nameplate-capacity operation, it will have an annual production capacity of 12,000t high-end magnet. Project construction cycle is expected to be two years.
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