Beixin Minerals Completes the Acquisition of a 51% Interest in a Mining Research Company

Uncategorized

This investment further enhances Beixin Minerals’ role in developing a robust and sustainable electric vehicle and clean technology supply for global markets

QINGDAO, SHANDONG, CHINA, March 29, 2021 /EINPresswire.com/ — Beixin Minerals, ISIN: CN1124854917, a dynamic and growing mining company focused on the operation and development of Rare Earth Elements mines, today announced that has completed the acquisition of an initial 51% interest in a mining research company focused on rare earth magnet recycling, and has an option to invest a further USD1 million to increase its interest up to 100%.

Consistent with the company’s strategy focused on downstream opportunities relating to the rare earths supply chain, the Transaction will generate potential synergies, such as first right to supply primary production if required for blending with recycled production, as well as product offtake and marketing rights, leading to enhanced marketing flexibility and access to downstream markets for rare earth permanent magnets, which are critical materials for electric vehicles, wind turbines, consumer electronics and other technology applications.

Highlights of the Transaction include:
• The acquisition of a patented process for extracting and demagnetizing neodymium iron boron (“NdFeB”) alloy powders from magnets embedded in scrap and redundant equipment named HDMS (Hydrogen Dispensation of Magnet Scrap).
• The founding directors, are leading world experts in the field of rare earth magnetic materials, alloys and hydrogen technology, and have significant industry experience.
• The project aims to establish a pilot rare earth magnet recycling facility to produce sintered rare earth (NdFeB) magnets for use in new electric motor designs for automotive use.

Ken G. Mingshan, Chief Executive Officer of Beixin Minerals stated: “We are very pleased to become a substantial shareholder in the company with a strong option to full ownership and look forward to working with the team, supporting the future growth of the company and development of this very exciting technology. We see rare earth magnet recycling as a major growth industry, complementing the development of new sustainable primary production, such as Beixin Minerals’ advanced stage Qixia Rare Earth Project, located in Yantai, Shandong, People’s Republic of China.”

About Beixin Minerals
Beixin Minerals is a rare earth mining company focused on delivering strategic materials to technology industries by advancing plans to develop the Qixia Rare Earth Project, located in Yantai, Shandong, People’s Republic of China. The Company’s mission is to spearhead the development of its flagship project, to provide maximum shareholder value and to implement meaningful and successful social responsibility programs. The Qixia Project is positioned to be the next Asian source of rare earth minerals. The quantity and quality of the resource present at the site makes it a world-class mining district and a dependable, long-term source for the rare earths the industry demands.

Zhong Tian
Beixin Minerals
public@beixin-minerals.com