KUALA LUMPUR (Oct 14): More than a dozen US companies are exploring opportunities in Malaysia’s rare earths sector, including mining projects with local partners and processing facilities, according to the US Embassy in Kuala Lumpur.
The statement released by the US Embassy was in conjunction with a US-Malaysia forum on critical minerals and rare earth elements held at The Ritz-Carlton on Wednesday.
Natural Resources and Environmental Sustainability Minister Datuk Seri Arthur Joseph Kurup in his opening remarks said Malaysia has an estimated 16.1 million tonnes of non-radioactive rare earth resources and is seeking foreign investment and technology to develop the sector sustainably.
The government aims to attract investors to build local processing facilities and produce higher-value products, while encouraging joint ventures with US companies. Malaysia is also proposing an Asean rare earth elements task force to align regional standards and strengthen Southeast Asia’s role in rare earth processing.
“Malaysia has made clear it wants trusted partners with the technology and capital to build a world-class rare earths industry,” said US Embassy Chargé d’Affaires David H Gamble Jr, adding that American companies were ready to support the effort.
The forum builds on a critical minerals memorandum of understanding signed by US President Donald Trump and Prime Minister Datuk Seri Anwar Ibrahim in October 2025 to strengthen cooperation and build more secure supply chains.
Under the memorandum, both countries will share technical expertise, support investment and research, and work to streamline approvals and improve investor access. They also aim to address unfair trade practices and explore measures such as price floors to protect their critical minerals markets.
Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani recently told Parliament that Malaysia has an estimated 16.2 million tonnes of non-radioactive rare earth resources worth RM747.2 billion. The sector is expected to create about 4,000 jobs.