Lynas Malaysia Sdn. Bhd. and MARA Corporation Sdn. Bhd. are pleased to announce the signing of an MOU to work collaboratively on several key projects, including attracting downstream industries and downstream customers to Malaysia.
Lynas is the largest producer of rare earth materials outside of China. Lynas has captured a significant percentage of global rare earth production and utilizes its expertise at its rare earths separation facility in Gebeng, Malaysia. MARA Corporation is a government agency that acts as an impact economy investor, creating and developing investments in key sectors to deliver scalable and sustainable financial returns that shape industries and deliver socio-economic outcomes for Malaysians.
Rare earths are essential inputs to high technology, high growth industries. Key uses of rare earths materials include permanent magnets, catalytic convertors, catalysts, batteries, electronics, polishing powders, and water treatment chemicals. Key end use sectors include:
- Automotive: Internal combustion vehicles, hybrid and electric vehicles
- Electronics and Appliances
- Automation and Defence systems
- Wind turbines
- Oil & Gas refining
Lynas and MARA Corporation will work collaboratively on the following key projects:
- Attracting downstream industries and downstream customers to Malaysia
- Education and training initiatives in Malaysia
- Commercialization of NUF residues from the Lynas Malaysia plant, including making soil conditioner products available to Malay farmers
- Design and fabrication work related to the Lynas 2025 Project.
The Lynas Gebeng plant creates significant opportunities for Malaysia to further develop high tech, future facing industries that include rare earths in their supply chains.
Amanda Lacaze, CEO and Managing Director of Lynas Corporation commented: “Lynas is delighted to be partnering with MARA Corporation on this exciting initiative. MARA Corporation is a strong and
important local partner as we grow our global business from Malaysia. We have always strived to be
an excellent foreign direct investor in Malaysia and this joint project is another way that we can facilitate economic development and jobs for Malaysians.”
Akhramsyah Muammar Ubaidah Bin Sanusi, Chairman of MARA Corporation commented: “Creating economic opportunities in Malaysia, especially for the Malay and Bumiputra population is at the heart of MARA Corporation’s business. We have followed the impressive progress of Lynas Malaysia as it has grown to become a major global player in the rare earth industry with a strong core of Malay technical professionals driving its progress. We are fortunate to have a key component of this supply chain already operating in Malaysia, and it is time to develop opportunities to further enhance Malaysia’s green and high-tech industries in line with the Pakatan Harapan government’s new Shared Prosperity Vision 2030.”