KOTA BHARU, Nov 17 — Economy Minister Rafizi Ramli says the government expects rare earth elements (REE) to be processed in Malaysia within the next three years.
He said this is because the technology to process REE is only available in China, and further discussions are being conducted.
This was among the matters on the discussion agenda between Prime Minister Datuk Seri Anwar Ibrahim and his counterpart Li Qiang.
"Therefore, we are waiting for the outcome of the discussion and our planning so that within two to three years from now, we should succeed in ensuring that REE can be processed in the country.
"If it can be processed (in the country), it makes it easier for states to regulate and license their mining for REE development," Rafizi said during a press conference after attending the Economy Ministry's 13th Malaysia Plan Engagement Session with the Kelantan state government at the Kota Darulnaim Complex today.
On November 11, Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad said Malaysia has great potential to be involved in the REE industry at the downstream level, thus becoming a super magnet-producing country globally, primarily to support the development of the electric vehicle manufacturing industry.
Rafizi said the latest REE blueprint, which examined the entire value chain at the upstream, midstream, and downstream levels, was recently tabled at the Sixth National Economic Action Council Meeting of 2024, chaired by Prime Minister Datuk Seri Anwar Ibrahim.
— Bernama
