MP Materials produces rare earth metal in Texas
MP Materials expects to produce about 1,000 tonnes of finished neodymium-iron-boron (NdFeB) magnets a year.
Aluminum Corporation of China (Chinalco) has taken a 45 percent majority stake in a rare earth joint venture in Jiangsu province, boosting such assets, which is part the firm’s strategic development plan, a company spokesman said on Friday.
But Chinalco, which is China’s top aluminium producer and the parent of Hong Kong- and Shanghai-listed Chalco, has no immediate plans to inject the rare earth assets into the listed aluminium arm , Chinalco spokesman Yuan Li said.
