JL Mag Rare-Earth (HKG:6680, SHE:300748) is looking to invest a total of 1.05 billion yuan in the construction of a green intelligent manufacturing project with 20,000 tons of high-performance rare-earth permanent magnets (REPMs) per year in Baotou, China, a Monday Hong Kong bourse filing said.
The firm will construct the project over two years through unit JL MAG (Baotou) Technology to achieve a production capacity of 40,000 tons of high-performance REPMs in 2025.
Following completion, the rare-earth permanent magnet producer will have an annual production capacity of 60,000 tons of high-performance REPMs.
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