The Baotou Rare Earth High-Tech Industrial Development Zone – located in Baotou city in North China's Inner Mongolia autonomous region – has been driving the quality of major projects there in rare earth, silicon and in other industries throughout the current year.

In 2023, the zone has undertaken 65 major projects with a total investment of 47.82 billion yuan ($6.56 billion). In the year to date, an impressive 19.84 billion yuan of investment has been allocated.

The zone is said to have remained focused on responding to the needs of its businesses by providing top-grade services.

The initiative is said to have played a pivotal role in ensuring that 26 new industrial projects have commenced construction and production in the year, with 37 more scheduled for completion by the year-end. Notably, 20 of these projects are already operational.

Looking ahead, the zone is committed to leveraging its industrial foundations and resource advantages, including its formidable rare earth operation.

Plans are for it to continue to attract investment, with a primary focus on welcoming a series of major projects that will have a significant catalytic impact on the area's development.

One of these is the High-Density Rare Earth Element High-Performance Permanent Magnetic Materials Project in the zone, being invested by Antai Northern Technology Co to the tune of 200 million yuan.

Once complete, the facility will provide key materials and components for strategic emerging industries such as smart manufacturing.

The project started construction in March and is currently undergoing the build-up and refurbishment of factory buildings and auxiliary facilities.

At present, its production equipment has been procured and partial production has been achieved, with an overall progress rate of over 60 percent.

It's expected to be completed and put into operation by the end of the year.

The construction site of High-Density Rare Earth Element High-Performance Permanent Magnetic Materials Project. [Photo/WeChat account of Baotou Daily]