Xiamen Tungsten scoops rare earth magnet project funding
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