Photo: Ronnie Chin/The Star
IPOH: The Perak government is looking to tap into opportunities arising from the recent memorandum of understanding signed between Malaysia and the United States to develop and secure supply chains for critical minerals.
Mentri Besar Datuk Seri Saarani Mohamad said the MOU is expected to draw more US-based investors to the state, particularly in the non-radioactive rare earth elements (NR-REE) industry, in which Perak has taken the lead.
"This MOU is encouraging, especially for states involved in renewable energy production.
"It will facilitate business cooperation, enhance trade opportunities, and strengthen international partnerships in the green energy sector," he said on Monday (Oct 27).
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He had earlier launched the Zantat Poly+Cal Innovation Laboratory (Research and Development Laboratory) at the Batu Kapur industrial area in Kampung Kepayang near Simpang Pulai.
He said Perak had already established collaboration with a major international partner in renewable energy, which is China, and now looks forward to exploring potential partnerships with companies from the United States.
"Of course, we welcome more investors. We are always open to collaborations that contribute to Perak’s sustainable energy goals," he added.
The White House, in a statement, had said that the MOU states the United States' commitment to expedite the development of critical minerals and rare earth elements in partnership with US companies.
Under the MOU on Critical Minerals, Malaysia’s commitment includes granting extended operating licences to create certainty for businesses to increase production capacity.
"Malaysia has also committed to ensuring no restrictions are imposed on the sale of rare earth magnets to the US," the statement read.
The MOU was signed by Prime Minister Datuk Seri Anwar Ibrahim and US President Donald Trump on the sidelines of the 47th Asean Summit and Related Summits in Kuala Lumpur on Sunday (Oct 26).
