Xiamen Tungsten scoops rare earth magnet project funding

By Albert Li
Published: Tuesday, 17 November 2015

Magnets are understood to be an increasingly important source of demand for rare earth elements. A new raft of investment will add 600 tpa extra capacity to the company’s downstream NdFeB manufacturing base.

Xiamen Tungsten Co. Ltd, one of the big six Chinese rare earth companies, has announced the receipt of two investment contracts with the China Development Bank Funding Co. via its subsidiary, Dandong Jinlong Rare Earth Co. Ltd, for the provision of a 600 tpa rare earth magnet production facility.

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