How many jobs will the new magnet factory in Malaysia create?

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The new magnet factory in Malaysia is expected to create approximately 400 jobs.

Lynas, in partnership with South Korea's JS Link, is investing approximately US$35 million (RM142 million) to establish a permanent magnet factory in Malaysia. This facility is projected to generate around 400 employment opportunities. The plant will focus on producing magnets using neodymium, iron, and boron, with an anticipated annual output of 3,000 tonnes.
Investment and Location Details

The investment of US$35 million by Lynas is earmarked for the construction of the factory. This new facility will be situated near Lynas's existing rare earths processing plant in Kuantan, located in the eastern region of Malaysia. This strategic placement aims to integrate raw material production with downstream manufacturing processes.
Production Capacity and Market Reach

The factory is designed to produce 3,000 tonnes of permanent magnets each year. These magnets are intended for use in the automotive, wind energy, and electronics manufacturing sectors. Key markets for these products include South Korea, Malaysia, and other significant global markets.
Strategic Partnership and Supply Chain Integration

Under a commercial agreement extending until January 2038, Lynas will supply rare earth materials to both the new Malaysian plant and JS Link's facility in Yesan, South Korea. This exclusive arrangement signifies a move towards integrating Lynas's raw material output with the downstream manufacturing capabilities of its partner.

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How many jobs will the new magnet factory in Malaysia create?

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