China Northern Rare Earth, Earth-Panda to Build 8,000 Mt/Year High-Performance NdFeB Alloy Flakes Project

Published: Sep 2, 2021 16:14

Save

China Northern Rare Earth (Group) High-Tech Co., Ltd. and Anhui Earth-Panda Advance Magnetic Material Co.,Ltd. will increase their capital investment in Northern Rare Earth Permanent Magnet Technology to build a high-performance NdFeB alloy flakes project with an annual output of 8,000 mt, according to a recent announcement of China Northern Rare Earth.

SHANGHAI, Sep 2 (SMM) – China Northern Rare Earth (Group) High-Tech Co., Ltd. and Anhui Earth-Panda Advance Magnetic Material Co.,Ltd. will increase their capital investment in Northern Rare Earth Permanent Magnet Technology to build a high-performance NdFeB alloy flakes project with an annual output of 8,000 mt, according to a recent announcement of China Northern Rare Earth.

After the capital increase, which totals 54.216 million yuan, the shareholding ratio of each shareholder in Northern Rare Earth Permanent Magnet Technology, will remain unchanged.

The construction period of the project is 12 months and total investment is 90.36 million yuan, which includes 73.22 million yuan of construction investment and 17.14 million yuan of initial working capital.

The project purchased and renovated two existing 600-kg smelting furnaces of Earth-Panda and four 800-kg type IV vacuum smelting furnaces.

China Northern Rare Earth (Group) High-Tech Co.Ltd.Anhui Earth-Panda Advance Magnetic Material Co.Ltd.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

19 hours ago

Frontier Secures $20 Million and Signs Rare Earth Offtake Agreement

Luxembourg-based Frontier Rare Earths today announced it successfully obtained a $20 million investment from South Africa's Industrial Development Corporation (IDS) and signed an offtake agreement with France's Carester. The company has now initiated the final feasibility study for its South African magnet-use rare earth and battery-grade manganese project. Frontier Rare Earths is currently advancing the development of the Zandkopsdrift project in South Africa. The project is expected to achieve an annual capacity of approximately 3,038 mt of Pr-Nd oxide, 114 mt of dysprosium oxide, and 25 mt of terbium oxide over the first 25 years.

19 hours ago

US Provides $565 Million in Financing for Brazilian Rare Earth Project

Serra Verde, a Brazilian rare earth element producer, announced today that the US International Development Finance Corporation (DFC) offered it a financing package worth $565 million, which also includes an option for the US government to acquire a minority stake in the company. Serra Verde’s Pela Ema ionic clay deposit in Brazil is scheduled to begin commercial production in 2024, with an expected annual output of 5,000 mt of total rare earth oxides, including dysprosium, erbium, neodymium, and praseodymium. Serra Verde plans to use the funds to refinance existing loan facilities and expand production capacity. The project aims to increase total rare earth oxide production to 6,500 mt per year by 2027.

19 hours ago

US DFC Offers $565M Financing to Brazilian Rare Earth Project

[SMM Flash: US Provides $565 Million in Financing for Brazilian Rare Earth Project] Serra Verde (a Brazilian rare earth element producer) announced today that the US International Development Finance Corporation (DFC) has provided it with a financing package worth $565 million, which also includes an option for the US government to acquire a minority stake in the company. Serra Verde's Pela Ema ionic clay deposit in Brazil is scheduled to commence commercial production in 2024, with an expected annual output of 5,000 mt of total rare earth oxides, including elements such as dysprosium, erbium, neodymium, and praseodymium. Serra Verde plans to use the funds to refinance existing loan facilities and expand production capacity. The project aims to increase the annual production of total rare earth oxides to 6,500 mt by 2027.

19 hours ago