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China expands rare earth metal moves to aid EV production
来源：shippingazette 编辑：编辑部 发布：2023/05/15 16:08:50
STATE-OWNED Chinese resources developers are expanding production of rare-earth metals in response to higher government quotas, working to build a supply chain that can handle growing demand for electric vehicles, reports Tokyo's Nikkei Asia.
China Northern Rare Earth (Group) High-Tech, China's biggest player in the field, in March announced plans to expand a refining and processing facility in Inner Mongolia into one of the largest in the world. The CNY7.8 billion (U$1.1 billion) project is expected to take a year and a half.
The company, which counts a major state-owned steelmaker as its top shareholder, cited increasing demand for EVs and wind power.
Its business plans through 2025 call for significantly strengthening its rare-earth supply chain and working to establish the world's biggest processing centre for rare-earth magnets.
The expansion was announced in the same month that the Chinese government boosted its rare-earth production quota for the first half of this year to 120,000 tonnes, up 20 per cent from a year earlier. China Northern's share jumped more than 30 per cent to nearly 81,000 tonnes.
China Northern Rare Earth (Group) High-Tech, China's biggest player in the field, in March announced plans to expand a refining and processing facility in Inner Mongolia into one of the largest in the world. The CNY7.8 billion (U$1.1 billion) project is expected to take a year and a half.
The company, which counts a major state-owned steelmaker as its top shareholder, cited increasing demand for EVs and wind power.
Its business plans through 2025 call for significantly strengthening its rare-earth supply chain and working to establish the world's biggest processing centre for rare-earth magnets.
The expansion was announced in the same month that the Chinese government boosted its rare-earth production quota for the first half of this year to 120,000 tonnes, up 20 per cent from a year earlier. China Northern's share jumped more than 30 per cent to nearly 81,000 tonnes.