KUALA LUMPUR, Aug 27 — The Ministry of Investment, Trade and Industry (MITI) is committed to developing and attracting potential investors in bolstering production activities along the rare earth elements (REE) supply chain in Malaysia, said its Deputy Minister Liew Chin Tong.
Liew said this is done via the technical committee for the development of the mid-level and downstream REE industry, chaired by MITI.
He stressed that research and development (R&D) in local technology must be accelerated so that the country can benefit from producing high-technology products using its own resources.
Among the strategies implemented are exploring cooperation with countries that have REE expertise through high-level government meetings, trade and investment missions, free trade negotiations, and bilateral meetings with strategic trading partners, he said.
“This measure is important as, although Malaysia has been identified as possessing REE deposits, the country still lacks the expertise and technological capability to process REE locally,” he said during a question-and-answer session at the Dewan Rakyat today.
Liew was replying to a question from Mohd Shahar Abdullah (BN-Paya Besar) on how the government is using the country’s mineral resource deposits as part of diplomatic negotiations to mitigate the geopolitical impact on global trade.
He stated that the New Industrial Master Plan 2030 and the National Advanced Materials Technology Roadmap 2021-2030 would support the government’s efforts in developing advanced materials, including high-value REE mineral ore resources.
Replying to a supplementary question regarding the management system for non-hydrocarbon minerals, such as gold and ore, Liew explained that Malaysia still lacks a clear structure, unlike the petroleum sector.
“Hence, we need a more organised structure so that we can process and control the technology, or invite parties who have the technology to assist in processing and maintaining the entire value chain.
“Like us, many other countries are facing the same reality, as thus far, only China controls 90 per cent of the processing capacity. REE has also become a weapon in trade wars,” he said.
Looking ahead, Liew said the government is negotiating with various countries, including China and the United States, as well as other countries, to find ways to acquire processing capabilities. — Bernama
