Malaysian Prime Minister Anwar Ibrahim said the construction of a 600 million ringgit ($142 million) super magnet manufacturing facility in the state of Pahang will bolster the country’s rare earth sector, state media reported.

In July, Australia’s Lynas Rare Earths and South Korea’s JS Link signed an agreement to develop a 3,000-tonne neodymium magnet production facility near Lynas’ advanced materials plant in Malaysia’s Kuantan district.