Neo Performance Materials' Heavy Rare-Earth Separation Plant in Jiangyin, China, Backs in Operation

Neo Performance Materials Inc. recently announced that its high-purity heavy rare-earth separation plant in Jiangyin, China (JAMR) has reopened to full operations after a 12-day government-issued citywide lockdown. None of Neo's employees tested positive for the Covid virus.

Currently, all of Neo's rare earth and rare metals production facilities worldwide are now fully operational, with the JAMR plant being the only one forced to temporarily close due to the Covid outbreak.

Constantine Karayannopoulos, CEO of Neo Performance Materials, said, "I am pleased that our JAMR specialty plant is once again operational and that product shipments have resumed and that all of our production facilities around the world are now operating at full capacity given the increasing demand for our specialty rare earth products."

At Jiangyin, China’s heavy rare-earth separation plant, Neo processes rare-earth raw materials into high-purity separated rare-earth products, including dysprosium and terbium for sintered NdFeB magnets that can be used in electric vehicles drive systems and related systems. JAMR also produces precisely designed materials for multilayer ceramic capacitor chips for nanoelectronic systems in electric vehicles, smartphones, wearables, telemedicine, 5G communications, and the Internet of Things (IOT). Several trillion of these specialized chips are produced worldwide each year.

On the back of strong financial performance in the first quarter of 2022, demand for Neo's high-purity rare earth products remains high given the rapidly increasing reliance on high-purity rare earth products, particularly magnetic rare earths, by manufacturers of battery electric vehicles, hybrid electric vehicles, and conventional vehicles, as well as manufacturers of energy-efficient pumps and ultra-high-speed motors.

Neo manufactures the components of many modern technologies to improve efficiency and sustainability. Neo's advanced industrial materials - magnetic powders and magnets, specialty chemicals, metals, and alloys - are critical to the performance of many everyday products and emerging technologies.

Neo Performance Materials' operations are organized into three main segments: Magnequench, Chemicals and Oxides, and Rare Metals. Headquartered in Toronto, Ontario, Canada, with corporate offices in Greenwood Village, Colorado, USA, Singapore, and Beijing, China, Neo operates globally with sales, R&D, and manufacturing facilities and offices in 10 countries including Japan, China, Thailand, Estonia, Singapore, Germany, UK, Canada, USA, and Korea.

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