Malaysia seeks foreign partnerships to develop rare earth sector: state media

KUALA LUMPUR, Oct 22 (Reuters): Malaysia is open to foreign companies establishing joint ventures with local firms to develop rare earths in the country, state media reported on Wednesday, citing the trade minister.
The Southeast Asian country has some 16.1 million metric tons of rare earth deposits, according to government estimates, but lacks the technology to mine and process them.
Malaysia is aiming to develop midstream processing capabilities in a sector dominated by China, which earlier this month tightened its restrictions on rare earth exports. Reuters reported exclusively earlier this month that the government was in talks with China on rare earths processing, saying Malaysian sovereign wealth fund Khazanah Nasional would partner with a Chinese firm to build a refinery in Malaysia.