JL MAG Rare-Earth Secures Crucial Export Licenses
JL MAG Rare-Earth, a leading producer of permanent magnets in China, has successfully obtained export licenses for rare earth products. This move follows China's decision to restrict rare earth exports. The licenses permit exports to regions like the U.S., Europe, and Southeast Asia.
- Country:
- China
In a significant development, Chinese rare earth permanent magnet producer JL MAG Rare-Earth has announced the acquisition of export licenses, allowing the company to continue its shipments to various international markets, including the U.S., Europe, and Southeast Asia.
This strategic move follows the Chinese government's decision to impose restrictions on the export of rare earth products in April, which prompted JL MAG to apply for the necessary licenses.
The company revealed that the approval of these applications is underway, as noted on the official investor relations platform linked to the Shenzhen stock exchange.
(With inputs from agencies.)
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