Lynas Rare Earths has signed a non-binding memorandum of understanding for the supply of mixed rare earths carbonate (MREC) from Menteri Besar (MB) Inc., the strategic investment arm of the Kelantan state government in Malaysia.
“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,” said Amanda Lacaze, Lynas Rare Earths CEO and managing director.
“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.”
Under the agreement, Lynas and MB jointly seek to strengthen, promote and develop co-operation for the growth of the Malaysian rare earths industry in the state of Kelantan. It also provides a framework for the companies to negotiate a definitive agreement for the supply of MREC feedstock to the Lynas Malaysia’s advanced materials plant in Kuantan once the project commences production.
Source: Lynas Rare Earths