Weekly News Review July 6 – July 12 2026

This week, the South Korean conglomerate JS Link made headlines. The company is looking for capable partners in the U.S. and Malaysia and appears to have found them. As always, you’ll find the details in our roundup.

AUSTRALIA AND SOUTH KOREA TO BUILD RARE EARTH FACTORY IN MALAYSIA:

Australian rare earths company Lynas and South Korean magnet manufacturer JS Link plan to build a rare earth permanent magnet factory in Kuantan, Malaysia. A memorandum of understanding signed in July 2025 has now been turned into a long-term partnership, the two companies announced.  The facility is expected to produce 3,000 tonnes of sintered neodymium-iron-boron (NdFeB) magnets per year and could create up to 400 new jobs. The new factory is to be built in close proximity to Lynas’ existing refinery in Kuantan.

Under the agreement, Lynas will supply JS Link’s magnet plant in South Korea and the planned facility in Malaysia with rare earth materials at commercial prices until January 2038. Lynas will also invest around A$50 million in JS Link, with the funds intended to support the construction of the new magnet factory.

NORTH AMERICA AND SOUTH KOREA COOPERATE: MINE TO MAGNET:

North American rare earth magnet value chain could expand further.

South Korean magnet manufacturer JS Link is looking to expand its presence in the United States. Last autumn, its U.S. subsidiary, JS Link America Inc., announced plans to build a rare-earth permanent magnet manufacturing facility in Columbus, Georgia. With planned annual output of around 3,000 tonnes, the plant would rank among the largest facilities of its kind outside China.

This week, the company signed a non-binding letter of intent with REalloys to evaluate the development of an integrated North American rare earth magnet platform. The platform could span raw material supply and processing, metallization and the manufacture of finished magnets.

Non-Chinese magnet supply chains take shape.

REalloys has announced several significant milestones in recent months. The U.S. company plans to build one of the world’s largest facilities for heavy rare earth metal production, a step in the value chain where China remains the leading player. It is also evaluating a partnership with the U.S. military that could repurpose unused land at military sites as potential locations for refineries to process critical raw materials, including rare earths.

JS Link, meanwhile, is expanding its role in non-Chinese magnet supply chains. Together with Australian rare earths producer Lynas, the company plans to build a magnet plant in Malaysia near Lynas’ existing refinery in Kuantan.

CANADA TO INVEST IN MINE TO MAGNET OPERATION:

Government backing worth hundreds of millions of dollars is set to support an expansion of Teck Resources’ production capacity.

The Canadian government plans to invest up to US$282 million in a project operated by mining and metals company Teck Resources. The funds would go toward expanding Trail Operations in British Columbia, a large-scale smelting and refining complex for a range of metals. The expansion is designed to double the site’s capacity for germanium and antimony while introducing gallium production for the first time.

The proposed investment would be made through the government-backed Canada Growth Fund, which finances strategically important projects and seeks to mobilize additional private capital.

The plan calls for an equity-like investment directly in the facility because there is no publicly traded equity available for purchase, Natural Resources Minister Tim Hodgson told Reuters. The agreement also allows Ottawa to negotiate the right to purchase part of the facility’s future output. The transaction remains subject to definitive agreements and the necessary approvals.

China’s Export Controls Add Urgency:

Gallium, germanium, and antimony are essential to a wide range of civilian and military technologies. Their applications include high-performance semiconductors, infrared optics, radar and communications systems, flame retardants, and certain types of ammunition. Their supply chains, however, remain heavily concentrated in China. Beijing has tightened controls on exports of all three materials in recent years, accelerating efforts to develop alternative sources.

That is also the backdrop to the planned investment at Trail Operations. According to Hodgson, government backing is intended to give companies the confidence to invest in new projects despite volatile global markets. The higher output could also make more of these strategic metals available to Canada’s allies.

The move is the latest step in Canada’s broader critical minerals push. In March, the country announced 30 new partnerships and project agreements representing nearly US$9 billion in investment. Canada is also pursuing closer coordination on strategic stockpiles, including plans for joint reserves with South Korea and Japan.

FRANCE EXPANDS RARE EARTH PROJECT IN MALAYSIA:

Plans for the processing facility with local partner Malaco Mining Group are taking shape.

French rare earth specialist Carester and Malaysia’s Malaco Mining Group have provided an update on their planned rare earth separation plant. In early 2026, the companies initially announced a pilot facility in the Malaysian state of Perak with a capacity of up to 3,000 metric tons of rare earth oxides per year.

According to Reuters, this will now be followed by a significantly larger plant with an annual capacity of around 13,000 metric tons. The facility is to produce both light and heavy rare earths. No details on costs or the project timeline have been provided so far.

Some of the feedstock produced in Malaysia is to be shipped to France in the future. Carester’s subsidiary, Caremag, is currently building a rare-earth refining and recycling facility there.

The partners also plan to deepen their cooperation in mining. According to Reuters, they are seeking permits to extract rare earths in several Malaysian states. In Malaysia, rare earths are often found in so-called ion-adsorption clays, which contain relatively high proportions of particularly critical heavy rare earths.

Unlike conventional ore deposits, ion-adsorption clays do not require hard rock to be mined. Instead, solutions are used to leach the metals bound to clay minerals directly from the soil. Carester and Malaco Mining Group say they are developing methods designed to prevent groundwater contamination and landslides. This is particularly important because this type of mining involves removing vegetation that would normally help stabilize the soil.

In addition to its mining potential, Malaysia is also strengthening its position further downstream in the value chain. The country is already home to one of the largest rare-earth processing facilities outside China, operated by the Australian mining company Lynas. Lynas also recently announced plans to build a magnet plant together with South Korean company JS Link.

THE WEST BUILDS ALTERNATIVES WHILE CHINA CONTINUES TO SET THE PACE:

Export controls, multibillion-dollar projects and interest-rate pressure shaped developments in rare earths, technology metals and precious metals in the second quarter of 2026. Politics and markets provided important momentum for the international raw materials landscape. Our quarterly report, prepared in cooperation with raw materials trader TRADIUM GmbH, summarizes the key events and strategic decisions and assesses their impact on global raw materials markets. Contact us to receive a copy.