Inner Mongolia Baotou Allocates $47 Million for Rare Earth Industry Transformation

SHANGHAI, Dec. 9 (SMM) – Baotou City of Inner Mongolia, China’s major rare earth producing region, has allocated 300 million yuan ($47 million) fund received from the central government to relevant companies for transformation and upgrade of local rare earth industry, cre.net reported, citing local media. 

The fund will cover 36 rare earth industry transformation and upgrade projects, including Tianhe Magnets Co.’ permanent magnet material project used for new energy vehicles, Baotou Jinshan Magnet Materials Co.‘s 5,000 tonne high-performance, corrosion-resistant NdFeB project for use in motors.     

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.