What is the estimated job creation from the new magnet production facility?

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The new magnet production facility is expected to generate approximately 400 jobs.

This new facility, a collaboration between Australian rare earths company Lynas and South Korea's JS Link, represents a significant investment in downstream manufacturing within Malaysia. The project aims to leverage Lynas's raw material production capabilities to create a local supply chain for critical components.
Investment and Production Capacity

Lynas is investing approximately US$35 million (RM142 million) in the construction of this permanent magnet factory. The plant, situated near Lynas's existing rare earths processing site in Kuantan, is designed to produce 3,000 tonnes of magnets annually. These magnets will be manufactured using neodymium, an essential rare earth element, along with iron and boron.
Market and Supply Chain Integration

The magnets produced at this facility are intended for various manufacturing sectors, including automotive, wind energy, and electronics. The target markets include South Korea, Malaysia, and other significant global markets. Under an exclusive commercial arrangement 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.
Lynas's Role and Market Position

Lynas operates the largest commercial rare earths processing plant outside of China. Its Gebeng facility, operational since 2012, supplies materials for products such as electric vehicles, mobile phones, and missiles. The company holds about 10 per cent of the global rare-earth market, with China dominating the remaining 90 per cent.

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What is the estimated job creation from the new magnet production facility?

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