Lynas Rare Earths recently reached a cooperation intention with JS Link, a well-known permanent magnet manufacturer in South Korea, and both parties signed a Memorandum of Understanding (MoU) aimed at exploring and establishing a deep cooperative relationship in the manufacturing and supply sectors. The core of this cooperation lies in jointly promoting the sustainable development of the rare earth permanent magnets industry chain in Malaysia.
According to the MoU, both parties plan to establish a production site for permanent sintered NdFeB magnets with an annual capacity of 3,000 mt around Lynas Advanced Materials Plant in Kuantan, Malaysia. Lynas will fully leverage its resource advantages in the field of light and heavy rare earth materials to provide a solid raw material guarantee for this manufacturing facility.