Imagine a future where parts of your smartphone, laptop, or electric vehicle could be sourced from Southern Alliance Mining’s (SAM) endeavors. This Malaysian mining company, originally focused on high-grade iron ore, is shifting gears towards extracting rare earth elements (REEs) and even gold. These materials are essential for cutting-edge technology. “Despite our significant resources in high-grade iron ore, we can’t compete with even the smaller players in places like Australia. To expand SAM, it’s crucial to venture into other valuable minerals local to Malaysia. The demand for REEs is soaring, and gold remains a lucrative commodity,” explains Lim Wei Hung, the executive director and chief operating officer. To accelerate this strategic pivot, SAM is working on acquiring a 40% share in MCRE Resources, known for its ion adsorption clay rare-earth mine within Malaysia…
