How much rare earth magnet will the new factory produce annually?

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The new factory is projected to produce 3,000 tonnes of rare earth magnets annually.

The planned permanent magnet factory in eastern Malaysia, a joint venture between Australian company Lynas and South Korea's JS Link, is set to have an annual output of 3,000 tonnes of magnets. These magnets will be manufactured using neodymium, an element from the rare earth group, along with iron and boron.
Investment and Location Details

Lynas is committing approximately US$35 million (RM142 million) to establish this new facility. The factory will be situated in close proximity to Lynas's existing operations in Kuantan, located in the eastern part of Malaysia. This strategic placement aims to integrate the new magnet production with Lynas's established rare earth material supply chain.
Target Markets and Supply Agreements

The magnets produced are intended for critical manufacturing sectors, specifically targeting the automotive, wind energy, and electronics industries. An exclusive commercial arrangement has been established, binding Lynas to supply rare earth materials to both the Malaysian plant and JS Link's facility in Yesan, South Korea, until January 2038. This agreement ensures a consistent flow of raw materials for downstream production.
Economic Impact and Job Creation

The development of this permanent magnet factory is anticipated to generate approximately 400 employment opportunities. This influx of jobs is a significant aspect of the project, contributing to the local economy around Kuantan. Lynas's existing facility in Gebeng, operational since 2012, already supplies materials for diverse applications, including electric vehicles, mobile phones, and defence systems.

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How much rare earth magnet will the new factory produce annually?

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