PUTRAJAYA: The Non-Radioactive Rare Earth Elements (NR-REE) industry in Malaysia needs to be given a new lease of life with the production of high-value products and not just focus on exporting raw minerals, said Minister of Energy and Natural Resources Datuk Seri Takiyuddin Hassan.

According to him, the prices of REE are expected to increase by more than 700 per cent in the next 20 years due to high demand for the manufacturing sector especially for the production of the latest technologies such as electric cars, computers, smart phones, the battery industry, high intensity magnets and glass manufacturing.

He said that based on the discovery of high-value NR-REE resources, Malaysia is able to compete at the global level to become a major regional player in supplying NR-REE.

In the text of his speech which was read put by his ministry's secretary-general Datuk Rosli Isa in conjunction with the 10th NR-REE Symposium 2022 here today, Takiyuddin said NR-REE sources were identified to be spread around Kelantan, Kedah, Perak, Pahang, Terengganu, Negeri Sembilan, Johor and Malacca.

Currently, according to him, China still dominates the production of REE, whereby based on statistics released by the United States Geological Survey for the years 2018 to 2021, the estimated production of REE resources by China is around 120,000 tonnes to 168,000 tonnes per year.

He said the current production of REE in Malaysia is only obtained from monazite and xenotime minerals which are by-products from tin mining, and based on statistics, the production of REE from these by-products only reaches around 21 tonnes to 1,645 tonnes only.

Takiyuddin said the NR-REE industry in Malaysia will be transformed from exporting raw minerals to focusing on exporting semi-finished products at the intermediate level or mineral-based finished products at the downstream level.

"This effort is important in ensuring that the development of the NR-REE industry in Malaysia does not stop at the upstream level. Instead, it must be expanded further to produce a complete NR-REE industry ecosystem capable of making a significant contribution to the national economy," he said.

Takiyuddin said his ministry has also set several key targets that include focusing on the development of the entire NR-REE value chain, especially for the middle and downstream stages to ensure that the development of the industry can be developed holistically.

-- BERNAMA