IPOH: Foreign companies that want to invest in the Rare Earth Element (REE) industry in Malaysia need to share their technology, says Datuk Seri Johari Abdul Ghani (pic).
The Investment, Trade and Industry Minister said the country would only consider foreign investment if they are committed to sharing technologies in mining or processing REE.
"If an investor comes and wants to be involved in the upstream, but doesn't want to share their technology, we will think twice.
"We have seen in the last three years, companies that came to explore this mineral, they know there's a value in what Perak has," he said in a press conference after attending the Invest In Perak Day 2026 programme here on Thursday (Aug 20).
"That high value can only happen and be obtained, with the condition that we have technology partners and people with skills.
"For the country to get the full benefit of REE, it must involve activities not only upstream or export, but at midstream and downstream levels as well," he said, adding that REE is one of the critical minerals that is very much needed in the development of any technology happening in the world.
Johari also said that the country would ensure confidentiality protection for our investors who share their technology.
"We will learn in terms of things we need to change in terms of regulations, in terms of laws, in terms of the availability of technology that we also need to protect the trade secret that those who want to be involved.
"Once we have learned from Perak, and many other states in our country like Johor, Negeri Sembilan (can benefit too), these are all potential," he said, adding that Perak was the pioneer in REE mining in the country.
"We will not rush (into any agreement), we do not want to deal with wrong people, which can disadvantage us," he added.
It has been reported that the first non-radioactive REE project, extracting lanthanide using eco-friendly and in-situ leaching method, was started in Kenering, Hulu Perak in 2022.
Also present during the event were Perak Mentri Besar Datuk Seri Saarani Mohamad, state investment committee chairman Loh Sze Yee, State Secretary Datuk Ahmad Suaidi Abdul Rahim and InvestPerak acting chief executive officer Dr. Ahmad Shahir Abdul Aziz.
