Prime Minister of Malaysia Anwar Ibrahim said the government is preparing to issue a policy banning the export of rare ores. To prevent loss of resources
Although Malaysia is not a major country in this industry, But the move comes as global markets look to sources of rare earth minerals other than China to diffuse over-reliance on China.
These minerals are used in important industries such as semiconductors. electric car and military equipment etc.
Malaysia has about 30,000 tonnes of rare earth ores, according to the US Geological Survey, in 2019, compared with 44 million tonnes in China. which is the largest reserve in the world
Anwar Ibrahim said his government will support the development of rare earth minerals in the country. And banning exports will help. “Guaranteed highest returns in the country”
He did not say when the plan would take effect.
He told the council that the industry would likely generate revenues of around $2 billion. and create nearly 7,000 jobs in the next 2 years.
If an export ban occurs China will be affected.
Reuters reports that China imports 8% of its ore from Malaysia. Between January and July According to China’s customs information
Previously this year China announces measures to restrict the export of certain types of minerals. used in the semiconductor industry which is seen as retaliation against the United States which reduce the sale of technology products to China
- source: VOA News
