“There are around 22 companies listed worldwide that are involved in the rare earth industry,” says SAM group chief operating officer Lim Wei Hung at a results briefing attended by The Edge Singapore. His presentation shares that of these 22 firms, only three companies, namely Lynas Rare Earths, MP Materials and SAM (through MCRE), are actively extracting and processing minerals from mines and generating revenue at scale (see Figure 1).
Rare earth elements (REE) are actually not rare. But publicly listed companies involved in the mining and production of rare earth elements are rare.
With more than 600 stocks listed on the Singapore Exchange, Southern Alliance Mining (SAM) is the only company offering investors the opportunity to access a REE play through its 40% ownership of MCRE Resources. This private company operates the first and only operational REE mine in Malaysia. MCRE undertakes the exploration, mining, processing and sale of rare earth carbonate, which is then exported and processed into rare earth oxides.
