A new manufacturing facility for super magnets, valued at RM600 million, is set to be established in Pahang by JS Link and Lynas Malaysia. Prime Minister Datuk Seri Anwar Ibrahim highlighted the factory”s potential to enhance Malaysia”s role in the rare earth downstream sector, creating new economic opportunities.
During his visit to Gyeongju, Anwar announced that preliminary preparations for the project are already underway. He is scheduled to meet with Pahang”s Chief Minister, Datuk Seri Wan Rosdy Wan Ismail, this Sunday to discuss further details. “On Monday, Tengku Datuk Seri Zafrul Aziz, the Minister of Investment, Trade and Industry, will oversee the project”s progression, as it represents a significant investment in high-level rare earth processing, specifically in super magnets,” Anwar stated.
He added that JS Link has acquired the necessary land and aims to commence operations promptly. “This is no longer just a memorandum of understanding. The investment is confirmed, the land is ready, and we are now focused on accelerating the process,” Anwar told reporters, concluding his three-day working visit to the nation. His trip coincides with the Asia-Pacific Economic Cooperation (APEC) Economic Leaders” Meeting.
Earlier, Anwar met with CEO of JS Link, Lee Jun Young, and managing director of Lynas Malaysia, Datuk Seri Mashal Ahmad. Minister Zafrul was also present during these discussions. In a post on X, Anwar emphasized that this collaboration is crucial for strengthening Malaysia”s position in advanced materials and promoting a cleaner technology ecosystem. This initiative supports global efforts to maintain a secure and resilient critical minerals supply chain, essential for sectors like electric vehicles, renewable energy, and high-tech industries.
In July, Lynas Rare Earths Ltd announced its agreement with JS Link to establish a production facility for rare earth permanent magnets in Malaysia. Under the terms of the memorandum of understanding, the facility is expected to produce up to 3,000 tons of neodymium-iron-boron sintered permanent magnets, located near Lynas” advanced materials plant in Kuantan. The South Korean company is expanding into the rare earth permanent magnet market with ambitions to create a sustainable global supply chain.
During his meeting with Namhae Chemical Corporation, Anwar revealed that the company has committed to increasing its imports of Malaysian raw materials worth RM500 million. This includes phosphate rock, potassium chloride, and green ammonia intended for fertilizer production. Namhae Chemical, a subsidiary of the National Agricultural Cooperative Federation (NongHyup), is recognized as South Korea”s leading producer of chemical fertilizers and industrial chemicals, commanding 42 percent of the domestic market and exporting to 20 nations.
