Malaysian Prime Minister proposed accelerating the cooperation with China in rare earths.
ASEAN Headline News: Malaysian Prime Minister Anwar said that efforts should be accelerated to enhance cooperation between the State Treasury Holdings and China in the field of rare earth elements, in order to fully leverage the potential of this strategic sector.
The Malaysian News Agency reported that Anwar emphasized that although the reciprocal trade agreement previously signed between Malaysia and the United States involved the rare earth sector, this does not mean that rare earth supplies are limited to the United States. He further pointed out that during the negotiations held in South Korea two weeks ago, the JS Link Company had successfully established a "super magnet" manufacturing plant in Pahang Province.
The 600 million ringgit investment plan for the "super magnet" manufacturing plant will be jointly promoted by JS Link and Lynas Malaysia. The two parties plan to build a sintered permanent magnet manufacturing plant with an annual production capacity of up to 3，000 tons near Lynas Malaysia's advanced materials plant in Kuantan.
The Malaysian Ministry of Investment， Trade and Industry stated on August 27 this year that the Malaysian government is committed to developing the rare earth industry， attracting potential investors， and strengthening the production activities of Malaysia's rare earth supply chain.
It is estimated that Malaysia has approximately 161 million tons of non-radioactive rare earth resources， with a market value expected to reach 809.6 billion ringgit.