LS Eco Energy to Invest KRW 11.6 Billion in Vietnam, Build 240-Ton-A-Year Samarium Production System
TECHWORLD ·
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LS Eco Energy said on the 30th that it will invest KRW 11.6 billion in a samarium metal production facility on the LSCV site in Ho Chi Minh City, Vietnam.
The facility will have an annual capacity of about 240 tons, and based on that, SmCo permanent magnets can be produced at an annual rate of about 700 to 1,000 tons.
LS Eco Energy plans to begin trial production in December and later expand its product lineup to include dysprosium (Dy), terbium (Tb), neodymium and praseodymium (NdPr).
LS Eco Energy will begin full-scale production of defense-use rare earth metals outside China for the first time. On the 30th, LS Eco Energy said it will invest KRW 11.6 billion in a samarium metal production facility in Vietnam.
The investment will go toward a samarium metal production facility being built on the LSCV site in Ho Chi Minh City, Vietnam. The facility will have an annual capacity of about 240 tons.
Samarium metal is a key raw material for SmCo permanent magnets. SmCo permanent magnets retain magnetic stability even at high temperatures and are mainly used in aerospace and defense applications, including fighter jets and missiles, due to demand for high heat resistance and stability.
Based on that volume, about 700 to 1,000 tons of SmCo permanent magnets can be produced annually. LS Eco Energy said it plans to begin trial production in December based on the new facility.
LS Eco Energy plans to expand its product lineup in the future to include rare earth metals such as dysprosium (Dy), terbium (Tb), neodymium and praseodymium (NdPr).
Lee Sang-ho, CEO of LS Eco Energy, presented this premise on the assumption that South Korea lacks rare earth resources.
Even so, Lee said he expects the company to emerge as a key pillar of the global supply chain through the manufacturing of high-value-added materials and components.
Source: TECHWORLD · Lee Gwang-jae
Original: https://www.epnc.co.kr/news/articleView.html?idxno=407562
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Source: TECHWORLD
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