KUALA LUMPUR, Dec 15 (Bernama) -- The opportunities for Malaysia to expand its role in the global rare earths manufacturing industry were today highlighted at a conference held at Menara Kuala Lumpur. Titled “Mastering the Knowledge of Non-Radioactive Rare Earth Elements for Future Sustainability”, the conference featured industry experts from across Malaysia, including Lynas Malaysia Sdn Bhd.
 
In his welcome address to the conference, Lynas Malaysia’s Vice President, Dato’ Sri Mashal Ahmad, congratulated the organisers, Al Mubin Synergy, for successfully organising an important discussion at a time when demand for rare earth materials is accelerating worldwide.
 
Dato’ Sri Mashal said, “Malaysia and the world need rare earths to achieve carbon neutral 2050. For Malaysia to take full advantage of its rare earth deposits, downstream activities such as cracking and leaching, solvent extraction and product finishing are required. Malaysia is well positioned with downstream rare earths processing expertise at Lynas’ factory in Kuantan, Pahang.”
 
Commenting on the opportunities arising from the conference, Dato’ Sri Mashal said: “A national rare earths policy or framework would be the ideal next step to promote future developments in Malaysia’s downstream industry. Malaysia has a strategic advantage as home to the only significant non-Chinese supplier of rare earth products and we can utilise this competitive advantage to further develop the local rare earths and advanced manufacturing industries.
 
“Lynas Malaysia has spent over a decade developing in-house global expertise in this field. Rare earths processing at Lynas Malaysia has created an estimated 4,600 jobs in the Malaysia economy (including almost 900 direct jobs) and contributed RM4.8 billion to Malaysia’s GDP since 2013.
 
“Malaysia needs more high paying jobs to address the rising cost-of-living and jobs at Lynas Malaysia are high value jobs which is good for our people. Further development of the industry will create new highly skilled jobs in Malaysia and provide a local source of supply to Malaysian manufacturing industries including motor vehicles and electrical appliances,” Dato’ Sri Mashal added.
 
Mr Pol Le Roux, Chief Operating Officer of Lynas Rare Earths, commented: “Lynas Malaysia can be a catalyst for investment in Malaysia’s green energy and critical minerals sector. Other countries in ASEAN have been able to attract billions of Foreign Direct Investment in downstream manufacturing of high-performance magnets and other related technologies which need rare earths and create thousands of new jobs.
 
“As an example, the development of a Malaysian super magnet factory to serve the automotive industry could produce 5,000 tonnes of NdFeb magnets and create up to 5,000 jobs and investment of RM1 billion,” continued Mr Le Roux.
 
“Malaysia has the opportunity to be a world leader in an industry that supports technologies we use every day, like cars and smartphones, as well as future facing industries such as electric vehicles and wind turbines. A strong and environmentally responsible rare earths industry in Malaysia also offers circular economy opportunities as by-products from rare earths processing can be valuable inputs into other Malaysian manufacturing and energy supply chains.” 

SOURCE:  Lynas Malaysia Sdn Bhd

FOR MORE INFORMATION PLEASE CONTACT:
Name: Mimi Afzan binti Afza
Email: Mimi.afzan@lynasre.com

--BERNAMA