KUALA LUMPUR - Malaysia could attract investments of up to RM100 billion in the rare earth sector over the next 10 years, once the government makes clear how it intends to regulate the industry.
Australian firm Lynas, which has become a crucial global supplier of the metals amid the ongoing US-China trade war, has been operating an ore refining plant in Kuantan, Pahang, since 2012. Lynas has faced sustained public protest in Malaysia for years, chiefly over concerns of radiation poisoning, and more recently contamination of the local water supply.
He said the government already has policies in place to ensure scheduled waste from rare earth processing was properly disposed of, to protect the public's health and the environment.
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