China and Malaysia are in talks to build a rare earth metal refinery.

China and Malaysia are in early discussions to establish a rare earths refinery in Malaysia, potentially involving Khazanah Nasional and a Chinese state-owned enterprise. This would mark a major shift in China’s policy, as it has traditionally restricted the export of rare earth processing technology to maintain its global dominance. The proposed deal aims to tap Malaysia’s reserves and counter competition from Australia’s Lynas Rare Earths.

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https://www.reuters.com/world/china/china-malaysia-talks-rare-earths-refinery-project-sources-say-2025-10-01/