JLMAG (06680.HK): Baotou 20,000-Tonne Rare-Earth Magnet Project Passes Fire Inspection

NewTimeSpace News: On 13 November 2026, JLMAG (06680.HK) said in a voluntary announcement that its 20,000-tonne-per-year high-performance rare-earth permanent magnet green manufacturing project in Baotou, invested through wholly-owned subsidiaries, obtained a special construction project fire acceptance opinion (Bao Zhu Jian Xiao Yan Zi [2026] No. 033) from the Baotou Housing and Urban-Rural Development Bureau on 12 November 2026, with the inspection concluded as passed.

The project had already been completed and had passed completion acceptance before that, the announcement said. The Company also streamlined the project's operating structure, changing the implementing entity from JLMAG (Baotou) Technology Co., Ltd. to its wholly-owned subsidiary JLMAG (Baotou) Intelligent Manufacturing Co., Ltd.

In the next stage the Company will install production equipment in batches and release capacity progressively. For 2027 as a whole, the Company will have actual magnet material capacity of 50,000 tonnes per year, and by the end of 2027 total magnet capacity is expected to reach 60,000 tonnes per year as new capacity is released.

The completed project will further raise the Company's capacity for high-performance neodymium-iron-boron permanent magnets, capture growth in new energy vehicles and robotics, support scaled deliveries to leading global customers and move the product mix towards higher value-added applications, while lifting its green and intelligent manufacturing capabilities. The announcement cautioned that the project is subject to macroeconomic conditions, industrial policy and downstream demand fluctuations, which may affect progress and investment returns.