Lynas Rare Earths has signed a memorandum of understanding (MoU) with Malaysia’s Menteri Besar (MB) Inc. for the potential supply of mixed rare earth carbonate (MREC) from the state of Kelantan.
As the investment arm of the Kelantan State Government, MB Inc. is spearheading the development of rare earth resources in the region.
The MoU, while non-binding, outlines plans to negotiate a formal agreement for sourcing Malaysian clay feedstock.
The joint forces are set to promote and grow the rare earths sector in Kelantan, laying the groundwork for future development.
The agreement also opens the door for the partnership to finalise a supply deal that would see MREC delivered to Lynas Malaysia’s advanced materials facility in Kuantan once production is underway.
“Lynas is delighted to sign this MoU with the Kelantan State Government’s MB Inc.,” Lynas Rare Earths chief executive officer and managing director Amanda Lacaze said.
“This is a significant step for Lynas and the Malaysian rare earths industry, bringing together Lynas Malaysia’s over a decade of rare earths industry expertise, and Kelantan State’s rare earth resources. Through Lynas, Malaysia is recognised as a rare earths centre of excellence.
Lacaze said the MoU will see the company work with MB Inc. to develop Malaysia’s locally sourced and separated rare earth products.
“Malaysia’s ionic clay deposits have excellent potential as future feedstocks for Lynas Malaysia, particularly given their high proportion of heavy rare earths which are in demand for future-facing technologies including electric vehicles and electronics,” she said.
“We look forward to working with MB Inc. to ensure that the MREC it produces meets the high environmental and technical standards required by Lynas and our customers in Malaysian and global manufacturing supply chains.”
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