PETALING JAYA: Niche Capital Emas
Holdings Bhd (NICE) has entered into a memorandum of understanding (MoU) with Greensnow Consolidated Bhd to collaborate on the joint development of a rare earth exploration, extraction and processing project in Malaysia, focusing on ion-adsorption clay (IAC-RE) deposits.
NICE is principally involved in the manufacturing, distribution and retail of gold jewellery and ornaments, as well as construction and property-related businesses.
In a filing with Bursa Malaysia, NICE said the MoU enables the parties to leverage their respective strengths and explore opportunities in Malaysia’s growing rare earth industry.
“The rare earth industry in Malaysia is supported by policy frameworks introduced by the Government of Malaysia, including the National Mineral Industry Transformation Plan 2021 to 2030, as well as subsequent regulatory and industry development guidelines for non-radioactive rare earth elements (NR-REE), including the comprehensive business model for the development of the IAC-RE industry in Malaysia, published in 2024.
“Malaysia’s REE resources are primarily found in ion-adsorption clay deposits, which are typically near-surface and suitable for in-situ leaching.
“This method enables extraction with a lower environmental impact than conventional mining.
“These deposits contain key magnet elements, including neodymium, praseodymium, dysprosium, terbium and samarium, which are essential for high-value industrial applications.”
