Malaysia to ban export of rare earths to boost domestic industry

Malaysia’s Prime Minister Anwar Ibrahim attends the 26th ASEAN-China Summit at the 43rd ASEAN Summit in Jakarta, Indonesia, on September 6, 2023. Yasuyoshi Chiba/Pool via REUTERS/File Photo Acquire Licensing Rights KUALA LUMPUR, Sept 11 (Reuters) – Malaysia will develop a policy to ban exports of rare earth raw materials to avoid exploitation and loss of resources, Prime Minister Anwar Ibrahim said on Monday, making it the latest country to restrict shipments of key minerals. Malaysia is home to just a fraction of the world’s rare earth reserves, with an estimated 30,000 metric tons, data from the United States Geological Survey…