Latest news with #LynasMalaysia
Barnama
3 days ago
- Business
- Barnama
Lynas, Kelantan Ink MoU For Mixed Rare Earths Carbonate Supply
KUANTAN, May 30 (Bernama) – Lynas Rare Earths Ltd and the Kelantan state government's investment arm, Menteri Besar Incorporated (MB Inc), have signed a memorandum of understanding (MoU) for the supply of mixed rare earths carbonate (MREC). In a statement today, Lynas said the MoU is non-binding and remains subject to the negotiation and finalisation of definitive agreements. It said the memorandum outlines a framework for both parties to strengthen, promote and develop cooperation to advance the Malaysian rare earths industry in Kelantan. 'It also provides a basis for MB Inc and Lynas to negotiate a definitive agreement for the supply of MREC feedstock to the Lynas Malaysia Advanced Materials Plant in Kuantan once the project commences production,' it added. Lynas Rare Earths chief executive officer and managing director Amanda Lacaze said Malaysia is already recognised as a rare earths centre of excellence through Lynas' operations, and the MoU marks a significant step towards developing locally sourced and separated rare earth products. 'Lynas is delighted to sign this MoU with the Kelantan state government's MB Inc. 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,' she said. Lacaze noted that Malaysia's ionic clay deposits have strong potential as future feedstock for Lynas Malaysia, particularly due to the high concentration of heavy rare earths, which are in demand for advanced technologies such as electric vehicles and electronics. 'We look forward to working closely with MB Inc to ensure that the MREC produced meets the high environmental and technical standards required by Lynas and our customers across Malaysian and global manufacturing supply chains,' she added. -- BERNAMA
The Star
3 days ago
- Business
- The Star
Lynas, Kelantan ink MoU for mixed rare earths carbonate supply
KUANTAN: Lynas Rare Earths Ltd and the Kelantan state government's investment arm, Menteri Besar Incorporated (MB Inc), have signed a memorandum of understanding (MoU) for the supply of mixed rare earths carbonate (MREC). In a statement today, Lynas said the MoU is non-binding and remains subject to the negotiation and finalisation of definitive agreements. It said the memorandum outlines a framework for both parties to strengthen, promote and develop cooperation to advance the Malaysian rare earths industry in Kelantan. "It also provides a basis for MB Inc and Lynas to negotiate a definitive agreement for the supply of MREC feedstock to the Lynas Malaysia Advanced Materials Plant in Kuantan once the project commences production,' it added. Lynas Rare Earths chief executive officer and managing director Amanda Lacaze said Malaysia is already recognised as a rare earths centre of excellence through Lynas' operations, and the MoU marks a significant step towards developing locally sourced and separated rare earth products. "Lynas is delighted to sign this MoU with the Kelantan state government's MB Inc. 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,' she said. Lacaze noted that Malaysia's ionic clay deposits have strong potential as future feedstock for Lynas Malaysia, particularly due to the high concentration of heavy rare earths, which are in demand for advanced technologies such as electric vehicles and electronics. "We look forward to working closely with MB Inc to ensure that the MREC produced meets the high environmental and technical standards required by Lynas and our customers across Malaysian and global manufacturing supply chains,' she added. - Bernama
New Straits Times
3 days ago
- Business
- New Straits Times
Lynas, Kelantan ink MoU to develop rare earths supply chain
KUALA LUMPUR: Lynas Rare Earths Ltd has entered into an agreement with the Kelantan state government for the supply of mixed rare earths carbonate (MREC). In a statement today, Lynas said the memorandum of understanding (MoU) with Menteri Besar Inc, the investment arm of the Kelantan state government, is non-binding and subject to the negotiation of definitive agreements. Under the MoU, Lynas and Menteri Besar Inc 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 Menteri Besar Inc and Lynas to negotiate a definitive agreement for the supply MREC feedstock to the Lynas Malaysia advanced materials plant in Kuantan once the project commences production. Lynas Rare Earths chief executive officer and managing director Amanda Lacaze said 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. She added that through Lynas, Malaysia is recognised as a rare earths centre of excellence. "This MoU will see us work with Menteri Besar Inc to develop Malaysia's locally sourced and separated rare earth products. "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. "We look forward to working with MB Inc. to ensure that the MREC it produces meets the high environmental and technical standards required by Lynas and our customers in Malaysian and global manufacturing supply chains," she noted.
