Lynas invests $50m in South Korea’s JS Link for Malaysian magnet factory
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The news: Lynas Rare Earths has signed a long-term partnership agreement with Korea-listed manufacturing company JS Link for the development of a rare earth permanent magnet factory in Kuantan, Malaysia.
The numbers: Lynas will make an investment of around $50 million in ordinary equity of Seoul-based JS Link, with the funds to be used to support the construction of the Malaysian magnet factory.
JS Link will establish the facility, with an operating capacity of 3,000 tonnes per year of neodymium magnets.
Lynas will supply rare earth materials to JS Link’s existing magnet factory in Yesan, South Korea, and the planned factory in Malaysia at commercial prices under an exclusive supply arrangement until January 2038.
The context: The latest agreement follows the signing of a memorandum of understanding between Lynas and JS Link in July 2025.
Magnets produced at the factory are intended to supply automotive, wind energy and electronics manufacturing supply chains in key markets, including South Korea and Malaysia.
What they said: “This partnership brings together Lynas’ rare earths processing expertise with JS Link’s magnet manufacturing capability to create a new manufacturing industry in Malaysia,” said Lynas interim CEO Pol Le Roux.
“This is an exciting project for the development of a sustainable rare earths industry in Malaysia and delivers on our ‘Towards 2030’ growth objective of expanding into the outside China metal and magnet supply chain.”
The source: ASX
