RM600 Million Super Magnet Plant to Boost Malaysia’s Rare Earth Industry

KUALA LUMPUR – Malaysia’s rare earth sector is set for expansion with the construction of a RM600 million (S$185.7 million) super magnet manufacturing facility in Pahang. The project, developed by Australia’s Lynas Rare Earths and South Korea’s JS Link, will produce 3,000 tonnes of neodymium magnets annually near Lynas’ advanced materials plant in Kuantan.

Super Magnet Plant

The investment marks a key step in Malaysia’s effort to move up the rare earth value chain and strengthen its role in global clean technology and advanced materials supply chains. Land acquisition for the site has been completed, and operations are expected to begin soon. Malaysia holds an estimated 16.1 million metric tons of rare earth deposits but lacks sufficient mining and processing technology. The project complements the country’s strategy to attract foreign investment and technology transfer to establish a sustainable and competitive rare earth ecosystem.

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