Evolution Metals & Technologies Corp. has received all 57 containers of ULVAC magnet-production equipment at its Pohang, South Korea facility, enabling a planned tenfold increase in rare earth magnet production capacity to approximately 10,000 metric tons annually. This expansion positions the company as the largest rare earth magnet producer outside China, amid ongoing uncertainties in China's export controls. With over half of its input materials sourced outside China and strong local government support including a $28 million grant, commissioning of the new equipment will begin in November 2026. The company aims to meet growing demand for high-performance magnets, particularly for defense and industrial applications, and will showcase its expanded operations in December 2026.
Evolution Metals & Technologies' recent equipment delivery and expansion plans provide context for readers following rare earth magnet developments. For readers following Basic Materials-sector stocks on Pluang as of Oct 28, 2026 19:42 WIB: out of 83 priced stocks, 28 rose and 51 fell. Among notable movers, IP fell 4.73% to USD 31.80 with a typical hold time of 5 days, ICL dropped 3.66% to USD 4.74 but had 100% buy order activity and a much longer typical hold time of 57 days, while SSL gained 2.33% to USD 17.55 with a typical hold time of 5 days.
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