Government fund helps development of rare earth industry

The Baotou bureau of finance, North Rare Earth Group and China Venture Capital Co signed a strategic cooperation agreement to establish a development fund for the rare earth industry. This agreement is based on the Baotou Zhenyu government's master investment fund, which is used to support key enterprises in the rare earth industry chain within the city.

It is understood that this is the third sub-fund to be established under the framework of the Zhenyu master fund.

The signing of the cooperation agreement supports the development of the rare earth industry and is in line with the "Baotou New Material and Application Industry Development Support Policy".

Next, the rare earth fund will focus on the fields of permanent magnetic materials, hydrogen storage materials, polishing materials, catalytic materials, rare earth secondary resources recycling, rare earth energy conservation, and environmental protection.

This will help the city realize its intensive processing capabilities, build a green and efficient recycling system for rare earth secondary resources, and achieve energy conservation and consumption reduction.