News: LYC UPDATE 3-Malaysia to ban export of rare earths to boost domestic industry, page-26

Someone in Malaysia at least expressing what most of us long term holders think.

https://harakahdaily.net/index.php/2023/09/12/rancangan-pmx-larang-eksport-bahan-mentah-ree-disokong/

the translation according to Google below

PMX's plan to ban the export of REE raw materials is supported

  National PMX's plan to ban the export of REE raw materials is supported September 12, 2023  I fully support the 10th Prime Minister's plan (PMX), but do not act against the plan. I welcome the government's move to develop a policy of banning the export of rare earth raw materials (Rare Earth Elements - REE) to allow the country to get maximum returns. Datuk Seri Anwar made this known when presenting the Half Term Review (KSP) of the 12th Malaysia Plan (RMK12) at the Dewan Rakyat yesterday. According to Anwar, the rare earth industry in this country is expected to be able to contribute almost RM10 billion to the GDP by 2025. It is also expected to be able to offer about 7,000 job opportunities. What was stated by PMX regarding the potential of the rare earth industry in this country, I submitted to the Minister of Science, Technology and Innovation (MOSTI), YB Chang Lih Kang in my letter last March. The letter was also sent a copy to YAB Menteri Besar Pahang and YB Exco Investment, Industry, Science, Technology and Innovation Pahang State. My letter requested YB Minister to reconsider the government's directive to Lynas Malaysia Sdn Bhd to close the cracking and leaching facility at its factory in Gebeng. It is strange when the government wants to develop the rare earth industry but at the same time closes existing facilities that can be used. I highlight that the closure order will not only cause hundreds of local workers to lose their jobs but may also affect the economic potential of the rare earth industry in this country. In the last Parliament Session, the Ministry of Natural Resources, Environment and Climate Change revealed that Malaysia has reserves of more than 16 million tons of rare earth raw materials worth more than RM800 billion. 29 locations have been identified in Kedah, Kelantan, Johor, Melaka, Negeri Sembilan, Pahang, Perak, Sarawak, Selangor and Terengganu. Currently, China dominates the world's supply of rare earth materials needed for the production of defense, telecommunications, transportation and electronics products. The Lynas infrastructure in Gebeng, Kuantan is the only facility described as the largest and most modern rare earth separation plant outside of China. Therefore, coinciding with the government's move announced yesterday, I once said that the government should reconsider the order to close the Lynas rare earth material separation facility in Gebeng. I believe it is a strategic decision that can help the country's rare earth industry development plan in the short and long term in addition to saving the fate of hundreds of local workers and preserving hundreds of millions of existing economic cycle values. Hasn't the PH-BN Government repeatedly ended up maintaining the policies, measures and decisions of the previous government despite taking a different stance during the election campaign? So why not do the same this time. YB ANDANSURA WEDNESDAY Beserah ASSEMBLY - HARAKAHDAILY 12/9/2023