China grants export permits to rare earth giant for US, Europe shipments
A top Chinese rare earth exporter, which hosted President Xi Jinping
during a 2019 inspection , said it had obtained export permits for several destinations, including the United States. Investors welcomed the news, sending the company's shares higher.
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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.
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The company, dual-listed in Shenzhen and Hong Kong, generated 312 million yuan (US$43.4 million) from exports in the first quarter of 2025, with 122 million yuan attributed to shipments to the US, it said on Wednesday.
JL MAG's announcement came after Chinese and US officials on Tuesday said both sides had 'agreed in principle' to a trade framework – pending approval from their respective leaders – following a second day of talks in London.
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