A subsidiary of Advanced Material Resources (ASE) has acquired a 60% interest in a rare earth oxide plant in East China.
The plant, in Jiangyin within Jiangsu province, produces high-value rare earth products for sale to international markets.
Feedstock is supplied from inside China, which has the world’s largest reserve of non-radioactive ion absorption clay.
Meanwhile, Advanced has joined with Beijing New Precision Alloy, a state-owned metallurgical company, to establish a plant to produce magnets from rare earth materials.
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