PRECISION MEDICINE
October 19, 2020Malaysia is in an advantageous position to participate in the global rare earth industry value chain as it has all the building blocks for a robust ecosystem. As the country’s high technology industry continues to develop and expand, a secure supply of Rare Earth (RE) raw material is critical. As such, the development of the upstream and downstream of rare earth industries will be an advantage to Malaysia.
The creation and establishment of these multi-billion-dollar industries in Malaysia would augur well for the continuous development of its human capital (from mining to processing to manufacturing) as well as contributing to the national Gross Domestic Product (GDP).
Lynas Advanced Material Plant (LAMP) has been operating since 2012. It was once the hottest environmental debate in Malaysia and continues to raise mixed reactions among Malaysians. The Malaysian Cabinet decided for LAMP’s operating licence to be extended provided several stipulated conditions are met.
LAMP, being the only significant producer of rare earth (RE) outside of China, produces lanthanides, the name for a group of 17 elements crucial in the production of high-end industries of batteries, computers, televisions, magnets and smartphones.
