Baotou Haorui Rare Earth Co., Ltd. which was founded in 1993 is located in the rare earth town. In the early stage, Baotou Rare Earth Smelter and West Lake Company jointly invested in the construction. Later, Inner Mongolia Hi-tech Holding Company, France Rhodia Company and Belgium Solvay Company joined in, and the capital strength and production and operation capacity were greatly improved. In 2018, due to the strategic transformation of the company, Inner Mongolia Hi-tech Holding Company invested in holding, renamed Baotou Haorui Rare Earth Co., Ltd.