Lynas Expands Rare Earths in Malaysia

Lynas Rare Earths, an Australian mining giant, is significantly expanding its rare earths processing operations at its facility in Gebeng, Malaysia. This expansion aims to increase Lynas Rare Earths's market share from approximately 10% and challenge China's 90% dominance in the global rare earths market. The Government of Malaysia recently granted Lynas Rare Earths a renewed 10-year operating license, with a condition that the company must halt all activities producing radioactive waste within five years. Rare earths are crucial for various high-tech products, including smartphones, electric cars, and fighter jets, and are increasingly vital for artificial intelligence hardware. The global pushback against China's control over rare earths has made these minerals a flashpoint in trade relations, particularly between the United States and China. Lynas Rare Earths is also exploring diversification into producing rare earths as catalysts for the hydrogen supply chain. Environmental groups like Greenpeace have raised concerns about radioactive by-products, which Lynas Rare Earths claims are non-toxic and non-radioactive.