Lynas Rare Earths has announced the signing of a Memorandum of Understanding (MoU) with Korean permanent magnet manufacturer JS Link to explore the development of a rare earth permanent magnet manufacturing facility in Malaysia.
The proposed facility, to be located near the Lynas Malaysia advanced materials plant in Kuantan, would have a planned production capacity of 3,000 tonnes of neodymium-iron-boron (NdFeB) permanent sintered magnets.
The MoU also outlines a collaboration for Lynas to supply light and heavy rare earth materials to JS Link to support magnet production.
In an ASX announcement, Lynas said the MoU is non-binding and remains subject to the finalisation of a definitive agreement.
“Lynas is delighted to partner with JS Link on the development of permanent magnet manufacturing in Malaysia,” said Amanda Lacaze, CEO and Managing Director of Lynas Rare Earths.
“Manufacturers around the world are actively seeking new suppliers to meet their growing needs for permanent magnets.”
Lynas said the collaboration aims to support the creation of a sustainable value chain for rare earth magnets in Malaysia.
The company, already an established supplier of rare earth materials, said the agreement aligns with efforts to enhance regional supply chain resilience for critical minerals.
“We look forward to working with JS Link to leverage its technology and expertise in permanent magnet manufacturing to develop an exciting new industry in Malaysia,” Lacaze added.
