Evolution Metals plans adjacent Pohang land buy as part of magnet capacity expansion

Reuters2026/08/27 12:51

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Evolution Metals & Technologies Corp. set terms to acquire about 1.3 million square feet of land next to its Pohang operations from the Pohang city government on a freehold basis.
The site would support an expansion of its magnet manufacturing footprint to 482,000 square feet from 24,000 square feet.
The plan is tied to a power infrastructure expansion to 750 megawatts from 130 megawatts, with availability targeted for November 2026.
The expansion is intended to lift rare earth magnet output to about 10,000 metric tons a year by end-2026.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Evolution Metals & Technologies Corp. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-26-094170), on August 27, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Evolution Metals plans adjacent Pohang land buy as part of magnet capacity expansion

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