Rare earth magnet factory planned in Malaysia
Australian rare earths company Lynas and South Korean magnet manufacturer JS Link plan to build a rare earth permanent magnet factory in Kuantan, Malaysia. A memorandum of understanding signed in July 2025 has now been turned into a long-term partnership, the two companies announced (PDF). The facility is expected to produce 3,000 tonnes of sintered neodymium-iron-boron (NdFeB) magnets per year and could create up to 400 new jobs. The new factory is to be built in close proximity to Lynas’ existing refinery in Kuantan.
Under the agreement, Lynas will supply JS Link’s magnet plant in South Korea, as well as the planned facility in Malaysia, with rare earth materials at commercial prices until January 2038. Lynas will also invest around A$50 million in JS Link, with the funds intended to support the construction of the new magnet factory.
Photo: 8vFanI
