High-purity rare metal metal and alloy project breaks ground in Liuyang
2024-01-11 11:56:08 [Print]
On January 10, Hunan Rare Earth Co., Ltd. kicked off construction of the 25tpa high-purity rare earth metal target materials and 2,000tpa high-end rare earth alloys project at Liuyang Economic and Technological Development Zone in Hunan, China.
With a total investment of RMB1.02 billion (USD142 million), the project took less than six months to begin construction since the signing ceremony. It will be built in two phases, covering a land area of 83Mu (5.53 hectares). The first phase of the project, with an investment of RMB370 million (USD51.66 million), will build three production lines for high-purity scandium metal, rare earth metal target materials (Al-Sc alloy target and Tb-Dy target), and high-end magnesium rare earth alloys. When fully operational, the project is expected to achieve annual operating revenue of RMB970 million (USD135 million) and an average annual net profit of RMB250 million (USD34.91 million).
With a total investment of RMB1.02 billion (USD142 million), the project took less than six months to begin construction since the signing ceremony. It will be built in two phases, covering a land area of 83Mu (5.53 hectares). The first phase of the project, with an investment of RMB370 million (USD51.66 million), will build three production lines for high-purity scandium metal, rare earth metal target materials (Al-Sc alloy target and Tb-Dy target), and high-end magnesium rare earth alloys. When fully operational, the project is expected to achieve annual operating revenue of RMB970 million (USD135 million) and an average annual net profit of RMB250 million (USD34.91 million).
