PUTRAJAYA: Prime Minister Datuk Seri Anwar Ibrahim has confirmed that Malaysia is seeking Japan's involvement in developing a Non-Radioactive Rare Earth Element (NR-REE) processing plant.
"I also mentioned to (Prime Minister Ishiba) that Malaysia is looking to involve Japan in the development of the Non-Radioactive Rare Earth Element (NR-REE) processing plant," he said during a joint press conference with his Japanese counterpart, Shigeru Ishiba.
.However, no further details on the plan to get Japan involved were provided.
Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad reportedly said that Malaysia has great potential in the downstream rare earth elements (REE) industry as a super magnet-producing country, particularly for supporting the growth of the electric vehicle (EV) manufacturing industry.
The latest REE roadmap, which covers the entire supply chain, including the upstream, midstream, and downstream stages, was tabled at the sixth National Economic Action Council meeting of 2024, chaired by Prime Minister Datuk Seri Anwar Ibrahim.
On Nov 28 last year, Economy Minister Rafizi Ramli underscored the importance of Malaysia's east coast region in becoming a hub for large-scale industries and rare earth elements (REE).
Rafizi, speaking at the East Coast Economic Region Development Council (ECERDC) forum, identified REE as a largely untapped resource with immense potential for economic growth over the next 10-15 years.
He said energy transition plans must be executed as a long-term strategy.