A RM1 billion agreement between Lynas Rare Earths and JS Link to establish a permanent magnet plant in Kuantan is expected to generate up to 700 jobs and bolster Malaysia’s downstream REE sector.
KUALA LUMPUR: A RM1 billion long-term partnership between Lynas Rare Earths Ltd and South Korea’s JS Link Inc to develop a permanent magnet manufacturing plant in Kuantan, Pahang, is expected to create up to 700 jobs and strengthen Malaysia’s downstream rare earth elements (REE) industry.
The plant, which will produce neodymium-iron-boron (NdFeB) permanent magnets, is planned to have an annual production capacity of 3,000 tonnes.
The Natural Resources and Environmental Sustainability Ministry (NRES) said the partnership, initially established through a memorandum of understanding (MoU) in July 2025, was strengthened through a RM1 billion long-term cooperation agreement signed on July 7 this year.
