Rare earth processing company Lynas Rare Earths is planning to expand its production in Malaysia with the extraction of three "heavy rare earth oxides", which are now being highly sought by industries, after China restricted its rare earth elements (REE) exports last year.

The three elements - dysprosium, terbium, and samarium - are used in high-performance magnets for advanced industries such as electronics and aerospace, according to a AFP report quoting Lynas officials.