"Absolutely no consequence whatsoever to Lynas IMHO." I do not...

"Absolutely no consequence whatsoever to Lynas IMHO." I do not agree with you. I have no idea right now on how big the final impact will be Only time will tell. It might be major. Even if Malaysia treats Lynas as a favored company what will the rest of the world do. Right now with KAL product not going through lamp. Lamp in MAL is responsible for 100% of Lynas's refining of REEs. The world is working to separate from China. How will the world react to MAL closely tying it self to Russia and China. The world will not target Lynas, that is for sure. It is highly possible they could target all Brick countries. That will impact products made in a Brick country. In conclusion this will not result in specific targeting of Lynas. It will subject Lynas to any restrictions imposed on the countries part of brick.

Brick original founders were Brazil Russia, India and China now several other countries have joined Egypt Ethiopia Iran and UAE. only the UAE and India can be considered partially friendly to Free world. Originally Russia controlled Brick Its influence is declining while China's is growing. JMO the power level of brick is now in China #1 then India and Russia. about equally but India is growing while Russia is declining. in a world that is rapidly polarizing, to think Malaysia becoming part of this group will not have impact on every company that has major amounts of manufacturing in MAL is just not being realistic. There will be no actions taken specifically against Lynas but they will be caught up in the politicks for sure.
Even with Texas and KAL fully on line, Lamp will be responsible for the bulk of Lynas's production and revenue. What happens if US says anything that touches MAL is not eligible for any Tax incentives. No penalties or any thing just product is treated like it came from China.
A quick search of MAL trade agreement using AI brought up this.

Is Malaysia a free trade country?

Currently, Malaysia has seven bilateral Free Trade Agreements (FTAs) with the following countries: Australia, Chile, India, Japan, New Zealand, Pakistan, and Turkey. The Association of Southeast Asian Nations (ASEAN) members have established the ASEAN Free Trade Area.

Right now Brick is not attacked as a group so I will agree with your statement. To look at how world is going and not be worried about future impact................

A quick note in Q4 CC AL said lots of KAL product on site at lamp but none had been processed. JMO they did not want to risk impacting production at end of year. I think this was smart.