Northern Rare Earth Announces to Build a Green Smelting and Upgrading Project

SHANGHAI, Mar 22 (SMM) - On the evening of March 14, Northern Rare Earth (600111) announced that it plans to invest no more than about 7.8 billion yuan through Baotou Huamei Rare Earth Hi-Tech Co., Ltd., its wholly-owned subsidiary, to build a green smelting and upgrading project. After the project is completed, it will have processing capacity of 198,000 mt/year of mixed rare earth concentrate with 58.09% REO, extraction and separation capacity of 106,700 mt/year, precipitation and crystallization capacity of 14.11 10,000 mt/year, and burning capacity of 39,600 mt/year.