Setopia announced on the 11th that its subsidiary GCM will hold a demonstration and briefing session on neodymium metal production at the GCM Lab located in Osikdo-dong, Gunsan-si, Jeonbuk, targeting global buyers.
The demonstration, which will take place over two days from the 4th to the 5th of next month, will showcase the smelting and production process using mass production equipment directly to global buyers, and neodymium metal samples produced will be provided on-site to the visiting overseas buyers.
Before the full-scale operation of the Vietnam metal plant, the company plans to invite overseas buyers who have inquired about the supply of neodymium metal to demonstrate the production process and provide samples for direct testing, thereby strongly emphasizing confidence in the purity of the produced metal.
Through this, the company intends to conduct individual demand forecasts with buyers to establish concrete plans for future production CAPA settings and decide on additional metal plant CAPA within Vietnam.
A GCM official stated, “We expect about 10 overseas companies to participate in the demonstration, mostly global magnet alloy specialists from the US and Europe,” adding, “Based on the technology and know-how developed from production in January, we are fully preparing to successfully hold this demonstration and lead it to sales.”
He continued, “As the goal of the rare earth business to build a value chain is becoming visible, we will do our best to maintain investors’ trust and confidence and firmly establish our identity as a rare earth company while carrying out our business.”
Meanwhile, GCM announced that the neodymium metal trial-produced in January was confirmed to be high-purity neodymium metal with an average carbon content of 124 ppm or less and 99.8% purity, according to component analysis results conducted by the Korea Institute of Industrial Technology (KITECH) and the Institute of Advanced Technology.
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