South China Morning Post: Prime Minister: Malaysia Invests $143 Million in Magnet Factory to Enhance Rare Earth Attraction
The Malaysian Prime Minister stated that the Lynas-JS Link Company's 3,000-ton neodymium magnet manufacturing plant is ready to start construction.
According to a report by the Malaysian national media, Malaysian Prime Minister Anwar Ibrahim said that the supermagnet manufacturing plant invested 600 million Malaysian ringgit (approximately $143 million) in Pahang will enhance the country's rare earth industry strength.
In July this year, Australian Lynas Rare Earths signed an agreement with South Korean JS Link to build a 3,000-ton (3,300-ton) neodymium magnet manufacturing plant near the Lynas Advanced Materials Plant in Kuantan, Malaysia.
According to Bernama, a Malaysian news agency, Anwar stated that due to the project involving rare earth processing, the Malaysian Trade Minister will closely monitor its progress.
Anwar said, "JS Link has already purchased land and hopes to start construction as soon as possible, so this is no longer a memorandum of understanding. The investment has been made, and the land is ready. Now we need to accelerate the process."
Prime Minister Anwar posted on social media that this significant cooperation will consolidate Malaysia's position in the advanced materials and clean technology ecosystem, while supporting global efforts to build safer, more sustainable, and resilient supply chains for critical minerals - which are essential for electric vehicles, renewable energy, and high-tech industries.
"This partnership reflects investors' continued confidence in Malaysia as a stable, competitive, and innovative investment destination," he said.
Note: The Lynas Rare Earths factory located in Pahang, Malaysia processes 12% to 15% of the world's rare earth elements. Photo: Reuters
Original: www.toutiao.com/article/1848310918062153/
Statement: This article represents the views of the author himself.