Highlights
- Korean manufacturer JS Link successfully produced 42SH-grade NdFeB sintered magnets at its Yesan plant, completing full production chain.
- Company preparing to develop 45UH-grade high-temperature magnets and seeking non-Chinese rare earth feedstock via Lynas collaboration.
- Progress represents a critical development in Western rare earth magnet manufacturing, potentially addressing supply chain gaps.
JS Link says in its latest newsletter (opens in a new tab) it produced 42SH-grade NdFeB sintered magnets at its Yesan plant, completing the full chain from SC-alloy melt through pressing, sintering, and magnetic QA (particle size analyzer, ICP, C/O/N/H gas analysis, B-H tracer). Photos and equipment lists back this up (pages 1–2). The company is preparing 45UH-grade (high-temperature) magnets next—explicitly noting heavy-rare-earth usage—and aims to source non-Chinese feedstock via collaboration with Lynas (page 1). The factory build-out (presses, grinders, B-Htracer, scrubber, licensing milestones) is documented with dates (page 4). A price panel shows NdPr oxide/metal rose ~0.7%/1.5% m/m in Sept. 2025 (page 3).
Hype Filter: Claims That Need Receipts
Today’s newsletter policy roundup drifts beyond magnets into geopolitics and includes assertions that don’t square with widely reported facts, such as:
- “U.S. DoD invested $400M to become the largest shareholder in MP Materials.” DoD awards have been structured as contracts/grants for processing and magnets, not equity control. Treat this claim as suspect pending documentation (page 3).
- EU factory shutdowns for “shortages of rare earths” are cited without names or durations (page 3).
- DFC “more than $600M each” for overseas mines also lacks specific project attributions (page 3).
Why This Matters for the Supply Chain
Non-Chinese sintered magnet capacity is the missing middle link for Western OEMs. A Korean line capable of 42SH today and 45UH tomorrow (with Dy/Tb doping) would be meaningful—if it scales and passes customer qualification. But the heavy-REE piece is the catch: even with Lynas for NdPr, Dy/Tb supply remains overwhelmingly China/Myanmar-centric, so “non-Chinese magnets” may still be input-dependent on China for performance-grade material.
InvestorLens: What to Watch Next
- Repeatable yields at 45UH; 2) OEM qualification wins and delivery of distributed customer tests, as the letter mentions (page 1); 3) Secure HE-REE supply that’s auditable; 4) Clear disclosure on capacity, capex, and margins as the plant moves from pilot to volume.
Bottom Line
The plant progress and 42SH pilot look credible and encouraging. The policy/market snippets mix real trends with overstated or poorly sourced claims. Focus on JS Link’s technical execution and supply contracts rather than the newsletter’s geopolitical color.
Source: JS Link Newsletter (opens in a new tab), October 2025 (pages 1–5).
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Who is supplying the metals for them, China, Japan, self? The major missing link in the whole chain and a real investment oppo’ for RE retail investors. GLTA – REI