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New Straits Times
13-05-2025
- Business
- New Straits Times
RM800bil buried potential: Malaysia held back by rare earth tech gap
PETALING JAYA: Malaysia is currently sitting on an estimated 16 million tonnes of low-radioactive ion adsorption clay (IAC) rare earth elements (REE), valued at RM800 billion — yet is unable to fully capitalise on this potential due to a lack of advanced processing technology. According to Utusan Malaysia, the absence of cutting-edge separation technology — proprietary to countries such as China, Japan, and the United States — has significantly hampered Malaysia's ability to move up the value chain. This technology is essential for producing high-value downstream products like supermagnets and batteries. Without it, the nation remains unable to realise the hundreds of billions in potential revenue. Universiti Sains Malaysia's (USM) School of Materials and Mineral Resources Engineering senior lecturer Associate Professor Dr Syed Fuad Saiyid Hashim, this limitation currently prevented Malaysia from producing REE-based products. He identified two key challenges that Malaysia must overcome in order to develop a viable downstream rare earths industry. The first is the need to secure a reliable domestic supply of rare earth elements to sustain production independently of foreign imports — many of which are now restricted. "A consistent and secure supply is critical. Without it, the industry will not be commercially viable, and investors will be reluctant to enter the market," he said. The second challenge, he said, was Malaysia's lack of the advanced separation technology required to process raw REE materials into components for high-tech applications. "While we do have local expertise in mining rare earth oxides (REO), we currently lack the specialised technology for separation. This remains closely guarded by countries like China, Japan, and the US," he added. Syed Fuad was responding to reports that Malaysia could potentially generate up to RM800 billion in revenue by developing its IAC deposits across five states. He said that separation technology for REEs remained "exclusive" and is not shared by the few countries that possess it. "That's the core issue in this industry — this technology is still treated as a state secret, which restricts its spread to other countries. It's also heavily influenced by global geopolitical interests," he said. Syed Fuad, who also researches REE mining through in-situ leaching (ISL), said that Malaysia's 16 million tonnes of IAC were sufficient to justify investment in downstream manufacturing facilities. However, he said that any development must involve careful, long-term planning to ensure a stable supply and avoid production disruptions. "Sixteen million tonnes is a significant quantity and does justify investment in such facilities. But we must proceed strategically," he added. Syed Fuad also highlighted Malaysia's geographical and economic constraints. "Malaysia is not a large country. It's not practical to build a factory in every state," he said. He added that any REE processing plant would need a guaranteed supply source to remain viable. "Each plant would require a stable and continuous supply to ensure long-term sustainability. Strategic government planning is vital if we are to fully harness this mineral potential," he said. Meanwhile, Putra Business School's MBA programme director Associate Professor Dr Ahmed Razman Abdul Latiff said Malaysia's rare earth industry held significant promise for attracting foreign direct investment (FDI), especially as global demand rises and countries seek to diversify supply chains away from China. "This industry could become a major magnet for FDI, given the high global demand for rare earths and the strategic shift among many nations to reduce dependence on China," he said. However, he stressed that any investment must include provisions for technology transfer, warning against the risk of Malaysia remaining merely a raw material exporter. "Malaysia should not be limited to supplying raw REE. We must build value by developing a robust downstream industry," he said. Ahmed Razman believes that a fully developed IAC-based rare earth sector could make a significant contribution to the national economy. "If we manage to develop the IAC-based REE sector holistically, it could have a notable impact on annual GDP growth," he said.
Yahoo
02-04-2025
- Entertainment
- Yahoo
Kevin Cronin 'Deeply Disturbed and Hurt' by Exclusion from Special REO Speedwagon Concert
The post Kevin Cronin 'Deeply Disturbed and Hurt' by Exclusion from Special REO Speedwagon Concert appeared first on Consequence. Kevin Cronin will be missing the REO Speedwagon 'retrospective' reunion concert on June 14th in the band's hometown of Champaign, Illinois, and now the singer has publicly commented on the matter. The charity concert will feature founding member Neal Doughty, bassist Bruce Hall, early REO drummer Alan Gratzer, guitarist Steve Scorfina, rhythm guitarist Mike Murphy, and original frontman Terry Luttrell. Proceeds from the show will benefit the REO Speedwagon Foundation for genitourinary cancer research at Moffitt Cancer Center. Get Kevin Cronin Band Tickets Here Cronin, who took over for Luttrell as REO's frontman in 1972, is noticeably absent from that list of band members, as the June 14th date overlaps with Cronin's previously announced tour with Styx. Per the itinerary, Cronin will be all the way over in Bend, Oregon, on the day of the retrospective gig — a conflict that Cronin is blaming on the event organizers. Writing in a Facebook comment on an otherwise unrelated post, Cronin addressed his absence from the reunion show and said that he was 'knowingly excluded': 'The organizers of the Champaign event could have picked a date when all of the former members of REO were available to participate. Instead they chose June 14, 2025, a date where it was public knowledge that I was previously committed to perform with Styx and Kevin Cronin Band in Bend, Oregon. Bottom line, I am being asked to participate in an event on a date when I can't possibly be there in-person. And then being falsely accused of turning down the invitation. I am deeply disturbed and hurt by all of this. After all I have done to help build the legacy of REO Speedwagon, I feel I have earned and deserve to be included in any event honoring that legacy. Instead, I have been knowingly excluded. PS. 35-year REO veterans Dave Amato and Bryan Hitt were not even shown the respect of being invited to the Champaign event.' Cronin is being billed as the 'former lead singer/songwriter' of REO Speedwagon on his upcoming co-headlining tour dates with Styx. That after the band's announcement that it would cease touring after 2024 due to 'irreconcilable differences' between Cronin and bassist Bruce Hall, a rift that has seemingly led to the former's exclusion from the Champaign reunion. Despite the change in nomenclature, Cronin will be touring with essentially the same lineup that made up REO Speedwagon toward the band's end, as Hall wasn't part of the group in 2024. Cronin be joined by lead guitarist Dave Amato and drummer Bryan Hitt, who have played in REO Speedwagon since 1989, as well as keyboardist Derek Hilland, a member of REO Speedwagon since January 2023, and Matt Bissonette, who has been REO Speedwagon's touring bassist since November 2023. Get tickets here. Kevin Cronin 'Deeply Disturbed and Hurt' by Exclusion from Special REO Speedwagon Concert Jon Hadusek Popular Posts Morgan Wallen Walks Off SNL Stage: "Get Me to God's Country" Kendrick Lamar's Super Bowl Halftime Show Received 125 FCC Complaints Chet Hanks Recreates Forrest Gump Scenes with Tom Hanks in New Music Video: Watch Jessica Simpson's Advice to Singers: 'Drink Snake Sperm' Gorillaz Confirm 2025 Release for New Album Venues Booked on Brand New's Tour Disable Social Media Comments Subscribe to Consequence's email digest and get the latest breaking news in music, film, and television, tour updates, access to exclusive giveaways, and more straight to your inbox.
Yahoo
07-03-2025
- Business
- Yahoo
Why MP Materials Stock Popped on Wednesday
When MP Materials (NYSE: MP) stock reported earnings last month, shares of the rare earth metals miner popped 5% -- but another catalyst is moving MP stock even more today. MP Materials stock was up 8.7% through 9:50 a.m. ET. MP reported a $0.12-per-share loss for Q4 back in February, better than the $0.13 loss that Wall Street forecast. The miner did $61 million in sales, too, $10 million more than anticipated, which was also good news. The news investors like today, though, came straight from Capitol Hill, where President Donald Trump addressed a joint session of Congress Tuesday and promised to "take historic action to dramatically expand production of critical minerals and rare earths here in the USA." MP Materials is on kind of a roll right now. Although it's still losing money, the company achieved "record production of 45,455 metric tons of [rare earth oxides, or REO] in concentrate in 2024." The company's stage 2 operations further refined REO into 1,294 metric tons of pure neodymium-praseodymium, or NdPr, for use in magnets for electric car motors. And MP began "trial production" of its stage 3 operations, producing actual automotive-grade rare earth magnets. Although revenue slumped nearly 20% for the year, MP's revenue surged 48% year over year in the final quarter of 2024. Looking ahead as it ramps magnet production, MP signed supply agreements with an unnamed "major global automaker" and also with the U.S. Department of Defense. The company also received a $58.5 million tax credit from the government to accelerate its production ramp. It's no wonder CEO James Litinsky called 2024 "a terrific year" for MP, and now it looks like 2025 might be even better. In last night's address to Congress, Trump made only passing mention of rare earths, and didn't mention MP by name. Still, as America's biggest rare earths miner, and a recipient of one government subsidy already this year, it's logical to assume MP will benefit from new policy. At least, that seems to be what investors are hoping. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $300,764!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $44,730!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $524,504!* Right now, we're issuing 'Double Down' alerts for three incredible companies, and there may not be another chance like this anytime soon.*Stock Advisor returns as of March 3, 2025 Rich Smith has no position in any of the stocks mentioned. The Motley Fool recommends MP Materials. The Motley Fool has a disclosure policy. Why MP Materials Stock Popped on Wednesday was originally published by The Motley Fool Sign in to access your portfolio
