JL MAG Rare-Earth Secures Export Licenses for Rare Earth Magnets

In a significant move, JL MAG Rare-Earth, a leading Chinese trader of rare earth magnets, announced on June 10 that it has obtained export licenses for shipments to the United States, Europe, and Southeast Asia. This announcement was made through the Shenzhen Stock Exchange, though the exact issuance date of the licenses was not disclosed. The company emphasized that its operations do not involve military equipment and will adhere strictly to relevant laws and regulations. Following the announcement, JL MAG's shares surged by 7.9% in late afternoon trading, reflecting investor confidence. Headquartered in Ganzhou, with facilities in Inner Mongolia and Zhejiang Province, JL MAG is a key player in the global rare earth magnet industry. In the first quarter of this year, sales to U.S. clients reached 122 million yuan ($17 million), accounting for 7% of the company's total revenue. Recent trade negotiations between the U.S. and China in London did not address rare earth exports, despite ongoing discussions. Earlier, a 90-day trade truce was agreed upon in Geneva, which included tariff reductions and other measures to ease tensions. Furthermore, China has proposed accelerating the approval of rare earth exports to the EU, as highlighted by Commerce Minister Wang Wentao during a meeting in Paris. This move underscores China's strategic efforts to expand its rare earth exports and strengthen trade relations with Europe. This development marks a pivotal step in global trade dynamics, particularly in the critical sector of rare earth magnets, which have both civilian and military applications.

Published: 6/12/2025