DTEC plans US$600 million investment in Malaysian rare earth processing
The US majority-owned startup aims to establish its first refinery within three years and eventually operate facilities on both Malaysian coasts.
Malaysia could receive a US$600 million rare earth refinery investment from DTEC Mineral and Metal Technology, whose chief executive officer Milan Perlly said the startup plans to establish the plant within three years.
In an interview, Perlly put the first facility’s annual processing capacity at 5,000 metric tonnes. DTEC’s longer-term ambition is to operate two Malaysian plants, one on each coast, with a combined capacity of 10,000 tonnes annually.
Potential sites are being evaluated following discussions with officials from Kedah, Terengganu, Perak and Negeri Sembilan, he said. DTEC also intends to develop local ionic-clay deposits and eventually run its own Malaysian mine.
Under Malaysia’s relaxed export rules, DTEC became the first company permitted to send unprocessed rare earth material to the US. Perlly said it is preparing about 30 tonnes for research, against an export authorisation covering as much as 700 tonnes. The research is intended to identify the material’s composition and appropriate processing technology.
The proposed investment would contribute to Malaysian and US efforts to diversify rare earth supplies beyond China, the dominant processor. Malaysian government estimates place the country’s identified resources at 16.1 million tonnes, though commercial viability remains unproven for much of that material.
Perlly and business partner David Greer together hold 51 per cent of DTEC Mineral, while DTEC Engineering and Construction owns 49 per cent. Perlly said the startup also hopes to pursue a Malaysian listing alongside one on either Nasdaq or the New York Stock Exchange.
