JL MAG obtains export licenses for rare earth products
2025-06-16 12:00:51 [Print]
JL MAG has received export licenses for rare earth-related products following China's latest export control measures on medium and heavy rare earths. The approvals cover shipments to the U.S., Europe, and Southeast Asia, and the company will export magnetic materials, components, and motor rotors in full compliance with regulations.
In Q1 2025, JL MAG reported export revenue of RMB312 million (USD43.43 million), accounting for 17.76% of its total revenue, with RMB122 million (USD16.98 million) from the U.S. market (6.94%). The company clarified it has no involvement in military-related business.
JL MAG operates production bases in Ganzhou and Baotou, and maintains long-term partnerships with major suppliers such as China Northern Rare Earth and China Rare Earth Group, from whom 63% of its raw materials were sourced in 2024. The company also promotes green sourcing, using 2,575 tonnes of recycled rare earth materials, including recovered scrap magnets, in 2024, representing 30.4% of its total rare earth usage, supporting both supply diversification and low-carbon manufacturing.
In Q1 2025, JL MAG reported export revenue of RMB312 million (USD43.43 million), accounting for 17.76% of its total revenue, with RMB122 million (USD16.98 million) from the U.S. market (6.94%). The company clarified it has no involvement in military-related business.
JL MAG operates production bases in Ganzhou and Baotou, and maintains long-term partnerships with major suppliers such as China Northern Rare Earth and China Rare Earth Group, from whom 63% of its raw materials were sourced in 2024. The company also promotes green sourcing, using 2,575 tonnes of recycled rare earth materials, including recovered scrap magnets, in 2024, representing 30.4% of its total rare earth usage, supporting both supply diversification and low-carbon manufacturing.
