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.

External Link : https://theedgemalaysia.com/node/681990