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Malaysia, Australia seek to strengthen cooperation on critical minerals

According to the Natural Resources and Environmental Sustainability Ministry (NRES), the matter was among the key areas discussed during a meeting between Minister Datuk Seri Arthur Joseph Kurup and Australian High Commissioner to Malaysia Danielle Heinecke on August 12.

Kuala Lumpur (VNA) - Malaysia and Australia are exploring ways to step up cooperation in rare earth elements (REEs) and critical minerals, including the production of neodymium magnets, New Straits Times reported.

According to the Natural Resources and Environmental Sustainability Ministry (NRES), the matter was among the key areas discussed during a meeting between Minister Datuk Seri Arthur Joseph Kurup and Australian High Commissioner to Malaysia Danielle Heinecke on August 12.

It said Malaysia recognises Australia's technical expertise and leadership in the critical minerals sector and is committed to developing a comprehensive domestic REE value chain, from midstream to downstream, in line with the National Mineral Policy 3 (NMP3).

The discussions also focused on sharing best practices in managing waste from rare earth processing, particularly neutralisation underflow (NUF), as well as efforts to develop domestic neodymium magnet manufacturing capacity.

In addition to critical minerals, the two sides also discussed hazardous waste management, marine ecosystem conservation, climate finance and Malaysia’s commitment to the 31st Conference of the Parties to the United Nations Framework Convention on Climate Change (COP31).

The NRES said that the combination of Australia's technical expertise and Malaysia's commitment to sustainable resource management is expected to serve as a catalyst for competitive green economic growth while delivering long-term benefits to both countries./.

VNA
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