Guangdong Launched a 8,000 mt NdFeB Permanent Magnet Material Project with Annual Output Value at 2.5 Billion yuan

SHANGHAI, Dec 31 (SMM) – Rising Nonferrous Shengyuan's 8,000-mt high-performance NdFeB permanent magnet material project was officially launched in Dongyuan County, Heyuan City on December 30.

The total investment for the project is 1.252 billion yuan, covering an area of 8,000 square metres. After the completion of the first and second phases of the project, the annual output value will be 2.5 billion yuan, with an annual profit at 408 million yuan. It will create 580 new jobs.

The production technology and the full-process automatic control system to be adopted by this project are all at the domestic leading level.

This project is an important project for Rising Nonferrous Co. to accelerate its extension to the rare earth industry, increase added value, and enhance the competitiveness of the entire industry chain of rare earths.