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Lynas and JS Link partner for Malaysian magnet factory

By PulseAugur Editorial · [1 sources] ·

Lynas Rare Earths and South Korea's JS Link have formed a partnership to establish a magnet factory in Kuantan, Malaysia. This facility will produce 3,000 tonnes of neodymium-iron-boron permanent sintered magnets annually, supplying automotive, wind energy, and electronics sectors. Lynas will invest approximately A$50 million in JS Link to support the factory's development, which is projected to create up to 400 jobs. The deal also includes Lynas supplying materials to JS Link's existing and planned magnet factories until 2038. Concurrently, Malaysia is reviewing a significant rare-earths supply deal between Lynas and the US Department of Defence. AI

IMPACT This partnership strengthens supply chains for rare earth magnets, crucial components in many AI-powered technologies and renewable energy systems.

RANK_REASON Partnership between two companies to build a manufacturing facility for critical materials. [lever_c_demoted from significant: ic=1 ai=0.4]

Read on SCMP — Tech →

AI-generated summary · Google Gemini · from 1 sources. How we write summaries →

Lynas and JS Link partner for Malaysian magnet factory

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Partnership between two companies to build a manufacturing facility for critical materials. [lever_c_demoted from significant: ic=1 ai=0.4]
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COVERAGE [1]

  1. SCMP — Tech TIER_1 English(EN) · Reuters ·

    Australia’s Lynas partners South Korea’s JS Link for Malaysian magnet factory

    Lynas Rare Earths said on Tuesday it had signed a partnership deal with South Korea’s JS Link to develop a magnet factory in Malaysia. The Australian rare-earths producer will also supply materials to JS Link’s magnet factory in South Korea and the planned factory in Malaysia unt…

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