Lynas Rare Earths has signed a $50 million partnership with South Korean manufacturer JS Link to develop a rare earth permanent magnet factory in Malaysia, according to multiple reports. The planned facility is located near Lynas’ existing rare earth processing hub in Kuantan, in the Malaysian state of Pahang. Under the agreement, JS Link establishes and operates the magnet factory in Malaysia, while Lynas supplies rare earth materials for the factory in both South Korea and the planned Malaysian operation. Lynas states that the supply arrangements continue until January 2038, covering materials used for magnets produced at the Korean facility and the new plant in Malaysia. The partnership follows a magnet manufacturing agreement between the two companies last year, and is positioned as an extension of their existing collaboration. The deal size reported across outlets is $50 million, reflecting the development of the Malaysian magnet manufacturing capacity. No additional financial terms beyond the reported $50 million were highlighted in the provided coverage.