The announcement came as trade talks wrapped up in London, with critical minerals high on agenda
JL MAG Rare-Earth said on Wednesday that it had also been granted licenses for Europe and Southeast Asia, and that it would export magnetic materials, components and motor rotors.
“After the export controls imposed on medium and heavy rare earth and related items were announced, the company immediately carried out export declaration work in accordance with relevant rules,” it said on the Shenzhen Stock Exchange’s interactive investor platform.
“The company is not involved in military businesses. We will continue to strictly observe relevant laws and policies.”
Headquartered in Jiangxi, central China, JL MAG is the world’s largest manufacturer and seller of permanent rare earth magnets, its stock exchange filings showed.
