Lynas Rare Earths and JS Link will work together to advance a sustainable rare earth permanent magnet supply chain in Malaysia.
Under the terms of a new non-binding memorandum of understanding (MoU), both parties will develop a 3000-tonne capacity manufacturing facility for neodymium iron boron (NdFeB) production.
Lynas will supply light and heavy rare earths materials to Korean-based JS Link so it can produce NdFeB permanent sintered magnets.
The facility will be located near Lynas’ advanced materials plant in Kuantan, Malaysia.
“Lynas is delighted to partner with JS Link on the development of permanent magnet manufacturing in Malaysia,” Lynas managing director and chief executive officer Amanda Lacaze said.
“Manufacturers around the world are actively seeking new suppliers to meet their growing needs for permanent magnets. Lynas is an established supplier of rare earth materials to permanent magnet makers and we look forward to working with JS Link to leverage its technology and expertise in permanent magnet manufacturing to develop an exciting new industry in Malaysia.’’
The signage of the MoU follows Lynas’ agreement with Menteri Besar for the potential supply of mixed rare earth carbonate and coincides with the company’s June quarter report, where several operational firsts were outlined.
Lynas’ quarterly neodymium and praseodymium (NdPr) production exceeded 2000 tonnes (t) for the first time, producing 2080t for the period ending June 30. Lynas’ rare earths oxide production for the quarter totals 3212t.
“The production result reflects the progressive commissioning of the various assets constructed as part of the Lynas 2025 capital project,” Lacaze said.
“These assets are now largely complete. The production team is now focused on stabilising production at higher run rates whilst managing overall production levels in line with market demand and the global market environment, following recent global tariffs and trade announcements.”
In Malaysia, Lynas produced its first dysprosium oxide in May and first separated terbium oxide in June, cementing the company as “the world’s only commercial producer of separated heavy rare earth oxides outside China”.
Back in Australia, construction of the Mt Weld expansion project is in its final stages. During the quarter, the crusher circuit was successfully commissioned with ore and the grinding and flotation circuits were energised.
“The project team will now focus on water and ore commissioning of the process plant in Q1 FY26 (the first quarter of the 2025–26 financial year),” Lynas said.
“Excellent progress has also been made on construction of the hybrid power station by our power purchase agreement partner Zenith Energy. The solar farm has been constructed, and installation of the wind turbines has commenced, with the first of four wind turbines now installed.”
Lynas closed the quarter with $170.2 million in gross sales revenue.
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