Australia’s Lynas Rare Earths and South Korea’s JS Link signed an agreement to establish a permanent magnet manufacturing facility in Kuantan, Pahang. The plant will produce approximately 3,000 tonnes of neodymium-iron-boron (NdFeB) magnets annually, which are widely used in electric vehicles, wind turbines, robotics, and advanced electronics. Lynas will also invest about A$50 million in JS Link to support the project. The factory is expected to create up to 400 jobs and strengthen Malaysia’s position in the global rare earth supply chain.
Key Developments
- New rare earth magnet factory to be built in Kuantan.
- Annual production capacity of 3,000 tonnes.
- Lynas to invest A$50 million in JS Link.
- Approximately 400 new jobs expected.
Business Impact
- Expands Malaysia’s advanced manufacturing sector.
- Strengthens local supply chains for EV and renewable energy industries.
- Positions Malaysia as a strategic supplier of high-value rare earth products.
