KUALA LUMPUR, Nov 4 -- As the largest producer of rare-earth materials outside China, Lynas Malaysia Sdn Bhd is presenting Malaysia with an opportunity to be at the industry's leading edge by developing the downstream sector.
This follows the signing of a memorandum of understanding (MoU) between Lynas Malaysia and MARA Corporation Sdn Bhd to collaborate on several key projects, including attracting downstream industries and downstream customers to Malaysia.
Other projects include education and training initiatives in Malaysia, commercialisation of neutralisation underflow (NUF) residues from the Lynas Malaysia plant, including making soil conditioner (fertiliser) products for Malay farmers, and design and fabrication works related to the Lynas 2025 project.
MARA Corporation chairman Akhramsyah Muammar Ubaidah Sanusi said the collaboration marked the beginning of greater opportunities for highly-skilled graduates, research and development, and more downstream industries.
“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 government’s new Shared Prosperity Vision 2030,” he said at the MoU signing ceremony here today.
Also present were Lynas Malaysia vice-president Datuk Mashal Ahmad, Lynas Corporation chief executive officer Amanda Lacaze and Australian High Commissioner to Malaysia Andrew Goledzinowski.
Mashal, who is also Lynas Malaysia managing director, said it had always been Lynas’s objective to develop more downstream industries since it established its presence in the country 12 years ago.
He said in the downstream sector, factories might invest billions of ringgit or even create thousands of new jobs, but most importantly, there was a need for technology development.
“Malaysia needs technology. Even in Lynas, the Malaysians working are high-tech (experts), with 67 per cent being technical graduates; that is big for an organisation,” Mashal said, adding that the nation could further develop high-tech, future-facing industries by including rare earth in the supply chain.
Meanwhile, elaborating on the Lynas 2025 project, Lacaze said the company aimed to increase its production capacity by 50 per cent and diversify its global footprint by developing facilities in Australia and the United States for the next five years.
“The industry is forecast to grow significantly for at least a decade, and Lynas has plans to grow in the industry. So that is what Lynas 2025 is. Lynas 2025 sees us move an additional 50 per cent capacity into manufacturing operations,” she said.
-- BERNAMA
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