Mosti backs proposal to ban export of rare earth raw materials

The Science, Technology and Innovation Ministry backs the government’s proposal to ban the export of rare earth raw materials, a move that would guarantee maximum returns for the country.

Minister Chang Lih Kang said this was because if the country were to export rare earth raw materials, it would not be able to help develop related industries.

The ban meant the government would also be able to promote the development of downstream industries through technology and related expertise.

“We need to develop downstream industries of rare earth to add value to the national economy.

“This policy of banning the export of rare earth raw materials is also carried out in other countries such as Indonesia," he told reporters after officiating the Gopeng 2.0 Science, Technology, Engineering and Mathematics (STEM) Carnival yesterday.

On Sept 11, Prime Minister Anwar Ibrahim said the government would ban the export of rare earth raw materials to avoid exploitation and loss of resources and guarantee maximum returns for the country.

Anwar, in saying this when presenting the mid-term review of the 12th Malaysia Plan (12MP) at the Dewan Rakyat, said a new National Minerals Policy will also be drafted to drive comprehensive development of the mineral industry.

The policy, he added, would be based on the principles of sustainability and responsibility.

- Bernama

Rafizi: Rare earth policy not hypocritical, to stop abuse by state govts

Processing rare earth locally carries lots of risks - MP

Report: Non-radioactive rare earth to create 6.5k jobs, add RM9.5b to GDP

'Harapan-BN wants rare earth mining to generate income for Kedahans'