Nation’s Rare Earth Industry advances with RM600 million high-power magnet plant

MALAYSIA’S rare earth industry is set for a major boost through a RM600 million high-power magnet manufacturing facility to be developed in Pahang by JS Link in partnership with Lynas Malaysia, Prime Minister Datuk Seri Anwar Ibrahim announced

Anwar said preliminary preparations for the project were already underway, adding that he would meet Pahang Menteri Besar Datuk Seri Wan Rosdy Wan Ismail on Sunday to discuss further developments.

“JS Link has already purchased land and is ready to begin operations. This is no longer a matter of signing a memorandum of understanding — the investment has already come in.

“The government’s focus now is to expedite processes so that the project can proceed swiftly,” he told reporters at a press conference marking the conclusion of his three-day working visit to South Korea for the APEC Economic Leaders’ Meeting in Gyeongju on Saturday.

The Prime Minister said Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz would visit the project site on Monday to facilitate the implementation of the investment.

Earlier, Anwar met with JS Link Chief Executive Officer Lee Jun Young and Lynas Malaysia Managing Director Datuk Seri Marshal Ahmad, accompanied by Tengku Zafrul.

In a post on X, Anwar said the high-impact collaboration would strengthen Malaysia’s position in the global clean technology and advanced materials ecosystem. It would also support the development of a stable, sustainable and resilient critical minerals supply chain for electric vehicles, renewable energy and high-technology industries.

“This partnership reflects investors’ continued confidence in Malaysia as a stable, competitive and innovation-driven investment destination,” he said.

In July, Lynas Rare Earths Ltd signed an initial agreement with JS Link to establish a production facility capable of manufacturing up to 3,000 tonnes of neodymium-iron-boron permanent magnets annually near the Lynas plant in Kuantan.

Separately, Anwar announced that South Korea’s Namhae Chemical Corporation had agreed to increase its imports of raw materials from Malaysia worth RM500 million, including phosphate rock, potassium chloride and green ammonia, for its chemical fertiliser production.

Namhae Chemical, a subsidiary of the NONGHYUP Group, is South Korea’s largest chemical fertiliser manufacturer, commanding 42 per cent of the domestic market and exporting to more than 20 countries worldwide. - November 1, 2025