The MoU, signed between Mara Corp chairman Akhramsyah Muammar Ubaidah Sanusi and Lynas vice-president and managing director Mashal Ahmad, also includes collaborating on the commercialisation of non-radioactive residue from the Lynas Malaysia plant at Gebeng, Kuantan.
The residue will be turned into soil conditioner, which has been certified safe by the Standards and Industrial Research Institute of Malaysia (Sirim), and will be made available to farmers.
Akramsyah said Lynas presented Malaysia with an opportunity to develop the downstream industry as it was the only rare earths refiner outside China.
“We have allowed a strategic industry to go to waste, we have lost a decade of opportunity,” he said, adding that the downstream industries had not been developed despite Lynas’ presence here for the past 12 years.
Akramsyah cited the example of one foreign manufacturing company which had wanted to set up shop in Malaysia but opted to move to Vietnam over concerns of political protests against Lynas.
He said rare earths were sought after around the world and widely used in the automotive industry, particularly in electric cars, and also in the renewable energy industry and mobile phones, among others.
He also said Mara wanted to create a centre of excellence focusing on rare earths.
“As far as we’re concerned, Lynas is not just here to stay but here to grow,” he said.
He urged Cabinet members who had concerns over Lynas to visit its plant.
Mashal said Lynas hoped to see more big companies building factories in Malaysia.
He said the days of people arguing that Lynas was unsafe and dangerous were over as its operations had been found to be safe by local and international agencies, including the Pakatan Harapan government’s review committee.
“Let us move on and grow the downstream industry. Our products are sent all over the world,” he said.
Lynas CEO Amanda Lacaze said that over the next five years, the company aimed to increase its production capacity by 50% and diversify its global footprint by developing facilities in Australia and the United States.
Also present today was Australian High Commissioner Andrew Goledzinowski.