Acron suspends the production of rare earth elements
The Acron plant (part of Acron Group) will suspend the production of rare earth elements. Specialists will preserve the plant to ensure the safety of the equipment. The personnel of the workshop will be transferred to other production facilities of the enterprise.
Acron started producing rare earth elements in 2016. Its production capacity was 200 tons (in the oxide form) with investments of $50 million.
We’ve managed to create a complete production cycle of rare earth elements and establish a high-tech and flexible production. However, the current low prices for rare earth elements and market instability have led to negative profitability of production,” said Alexander Popov, Chairman of the Board of Directors of Acron Group.