Malaysia Govt’s new policy to ban export of rare earths, safeguard the resources’ value chain

  • The government will introduce a policy prohibiting the export of rare earth raw materials to prevent exploitation and resource loss, as well as ensure maximum returns for the country.
  • Prime Minister Datuk Seri Anwar Ibrahim announced that a detailed mapping and a comprehensive business model, integrating upstream, midstream, and downstream industries, will be developed to maintain the rare earth value chain within the country.
  • “The rare earth Industry will emerge as a new growth resource, based on sustainable and environmentally friendly non-radioactive rare earth elements. These elements are crucial in manufacturing batteries, super magnets, and electronic devices,” Anwar stated
  • Anwar further mentioned that the rare earth industry is anticipated to contribute up to RM9.5 billion to the country’s gross domestic product by 2025, and create nearly 7,000 job opportunities.

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