Fujian Approved Three Rare Earth Projects, with a Total Investment of Over 260 M

J According to Fujian Provincial Economic and Trade Commission, after a 3,000-ton NdFeB alloy (powder) project and a 1,000-ton rare earth fluorescent powder project were approved in the second half of 2011, in late February this year the province approved the 2,500-ton NdFeB magnet project of Changting Jinlong Rare Earth Co., Ltd. in Longyan City. The above three projects involve a total investment of more than 260 million yuan. With these projects, Fujian will develop and utilize rare earth resources and extend the high-end deep processing industry chain.

It is learned that this year with Xiamen Tungsten being in the leading position, a rare earth group will be set up to integrate rare earth resources in the province.

Prior to that, Fujian Provincial Government officially approved the establishment of Longyan Rare Earth Industrial Park, which is to be managed as a provincial economic development zone. The park has a total planned area of 12.82 km2, and construction area of 7.98 km2, with a total investment of 6 billion yuan.

Located in the inland area of western Fujian,Longyan is an important rare earth mining area in the province. Most of rare earth from this area is exported via Xiamen Port. So far, a number of technologically sophisticated enterprises with sizable investments have settled in Longyan Rare Earth Industrial Park. Contracts have been signed for 9 projects in total, and five of the projects have started construction with a total investment of 1.32 billion yuan