ASEAN To Explore Regional Collaboration On Rare Earth Elements -- Tengku Zafrul

By Zufazlin Baharuddin

KUALA LUMPUR, Oct 24 (Bernama) -- ASEAN is taking steps to explore regional collaboration on rare earth elements (REE), with member countries looking at ways the Southeast Asian bloc can collectively leverage its natural resources.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said that among the efforts undertaken are the sharing of knowledge and best practices among member states, as well as the exploration of technologies that complement and strengthen regional industries.

“For now, we have just come up with an understanding of how we can work together in the future when it comes to REE.

“The (ASEAN) ministers in charge of REE have looked at how the bloc can share knowledge, share best practices, and how technologies can complement our industries,” he told reporters at a press conference after the 26th ASEAN Economic Community Council (AECC) meeting today.

While no timeline has been set, Tengku Zafrul said a declaration on REE has already been agreed upon to guide future collaboration.

Tengku Zafrul said that AECC issued a declaration on the ASEAN Minerals Development Vision, which outlines ASEAN’s ambition to become a leading destination for minerals investment, including critical minerals.

He said the vision aims to strengthen production and trade through technological advancement, sound governance, and sustainable best practices.

According to news reports, ASEAN is home to an estimated 40-45 million tonnes of REE reserves, nearly equal to China’s total of 44 million tonnes.

On Oct 22, Tengku Zafrul said Malaysia has a competitive advantage through its estimated REE deposits of 1.6 million tonnes and is open to foreign companies establishing joint ventures with local firms to develop rare earth minerals in Malaysia.

An analyst opined that building ASEAN into a true REE giant would require moving from fragmented bilateralism to coordinated regionalism.

The analyst also proposed a five-pillar framework, including an ASEAN Rare Earth Council (AREC), a shared certification and traceability system, an REE corridor infrastructure plan, joint research and development and workforce development, as well as strategic dialogue with China, Japan, Korea, and the European Union.

“Building ASEAN into an REE giant is not just a matter of geology; it is a test of political will, civic foresight, and regional imagination,” the analyst added.

-- BERNAMA