Lynas Rare Earths announced on July 7, 2026, that it has entered a partnership with South Korea’s JS Link to develop a magnet factory in Kuantan, Malaysia. Under the agreement, JS Link will establish a facility with an operating capacity of 3,000 tonnes per annum of neodymium-iron-boron permanent sintered magnets.
Lynas will invest approximately A$50 million (US$34.8 million) in JS Link shares to support the development of the Malaysian factory. The Australian rare-earths producer will also supply materials to JS Link’s existing magnet factory in South Korea and the new Malaysian facility until January 2038.
The magnets produced are intended to serve automotive, wind energy, and electronics manufacturing supply chains in key markets including South Korea and Malaysia. The Kuantan factory is expected to create up to 400 new jobs.
Separately, Malaysia announced on July 6, 2026, that it will review a US$96 million rare-earths supply deal signed earlier this year between Lynas, which operates one of the world’s largest rare earths processing plants in Malaysia, and the US Department of Defence.
This partnership builds on a previous magnet manufacturing deal between Lynas and JS Link signed last year.
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