KUALA LUMPUR (Reuters) -Malaysian Prime Minister Anwar Ibrahim said the development of a 600 million ringgit ($142 million) super magnet manufacturing facility in the state of Pahang will strengthen the nation’s rare earth sector, state media reported.

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

Anwar said Malaysia’s trade minister would monitor the project as it involves rare-earth processing, state news agency Bernama reported on Saturday.

“JS Link has already purchased the land and wants to begin operations, so this is no longer a memorandum of understanding,” Anwar said. “The investment is in, the land is ready, so t

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