The Science, Technical and Innovation Ministry fully supports the decision to implement an export policy for rare earth elements (REE), believing it will benefit the domestic industry. Minister Chang Li Kang emphasized the importance of processing these materials domestically to develop a downstream industry and cited Indonesia’s example of banning nickel exportation. Minister Chang made these remarks during the Gopeng Science, Technology, Engineering and Mathematics carnival held at RTC Perak on Saturday.
On September 12, Prime Minister Datuk Seri Anwar Ibrahim announced that the Federal Government would establish the policy to prevent REE exploitation, ensure resource preservation, and maximize returns for the country. This statement followed Perak Mentri Besar Datuk Seri Saarani Mohamad’s May 24 revelation that 4,477.039 tonnes of REC were exported to China from the state between February and April.
In August, Indonesia faced opposition from the European Union over its nickel ore export restrictions, but defended its right to prioritize value addition, economic growth, and job creation through domestic processing. Indonesia’s policy mandates that all extracted raw nickel must undergo domestic processing, leading to higher value-added export revenues and promoting the growth of the mineral smelting industry. The country now houses 15 nickel smelters, attracting investments from China, the world’s leading auto exporter and EV battery maker. Indonesia also possesses around a quarter of global nickel reserves.
Credit: The Star : News Feed
