KUALA LUMPUR -- Malaysia will develop export ban policies on rare earth elements to avoid "exploitation and loss of resources, guaranteeing maximum returns" to the country, Prime Minister Anwar Ibrahim said in parliament on Monday.
"Detailed mapping of rare earth elements and an overall picture of a business model combining upstream, midstream and downstream industries will be developed to ensure that the value supply chain of rare earth elements remains in the country," the prime minister said as he tabled a mid-term review of the government's five-year economic plan that runs to 2025.
