Rare earth metal project to settle in Jiuyuan district

A rare earth metal and alloy production project for sintered Neodymium Iron Boron, or NdFeB -- the world’s strongest commercially available magnetic material -- is to be settle in Jiuyuan Industrial Park, according to a May 17 report in the Baotou Daily.

The project, developed by Aotuo (Baotou) Industrial Internet Co, will be funded with an investment of 56 million yuan ($8.11 million).

Plans are to build rare earth metal production plants covering 11.53 hectares and NdFeB production facilities.

After the project is completed and put into production, it is estimated that the annual output value will be 2 billion yuan and taxes will be around 150 million yuan.