TAPAH: China is ready to share its rare earth processing technology with Malaysia - a move that could substantially boost the commodity’s value in the global market.
Foreign Minister Datuk Seri Mohamad Hasan said that rare earth processing not only boosts national revenue but also benefits state governments, as mineral resources fall under their jurisdiction.
“President Xi Jinping himself stated during yesterday’s meeting between Malaysia and China that they are willing to share the technology.
“Rare earth is a gift from Allah SWT to Malaysia. If we sell it raw and unprocessed, the value is relatively low, but once processed, its value increases significantly – by as much as 10 to 15 times,” the Barisan Nasional (BN) deputy chairman told reporters at the Batu Tiga polling district centre here today.
Xi’s three-day state visit to Malaysia, which began on Tuesday, was at the invitation of His Majesty Sultan Ibrahim, King of Malaysia.
The visit is Xi’s second official visit to Malaysia in 12 years, after the first in 2013, which saw the two countries upgrade diplomatic relations to a Comprehensive Strategic Partnership.
