Johari: Lynas-US cooperation to facilitate rare earth supply agreement
KUALA LUMPUR: Cooperation between Lynas Rare Earths Ltd (Australia) and the United States government aims to facilitate a material supply agreement for the advanced manufacturing industry.
The US government and Lynas Rare Earths Ltd have entered into a cooperation agreement aimed at facilitating a rare earth supply agreement for the advanced manufacturing industry. This move is expected to support the US efforts to achieve national supply chain resilience objectives, particularly in the permanent magnet manufacturing sector.
Lynas Malaysia processes raw REE mined in Australia into rare earth oxide (REO) supplies, which are then supplied to metal manufacturers overseas for magnet production. The US government has agreed to allow flexibility in the existing moratorium policy on the export of raw REE materials, provided the companies demonstrate a commitment to developing processing facilities in Malaysia within three years.
This agreement is seen as a step towards establishing a holistic and integrated REE industry ecosystem in Malaysia, attracting both domestic and international investments.
Brief written by urgent.news from New Straits Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
