Mining Minister Floyd Green has signalled the Government’s intention to collaborate with a Jamaican-based company and international investors to develop the country’s rare-earth minerals industry.

Mr. Green made the revelation during last Friday’s meeting of Parliament’s Standing Finance Committee.

He was responding to concerns raised by Opposition Spokesperson on Energy, Phillip Paulwell, about Jamaica’s potential to develop the industry, and the opportunities rare-earth presents for economic growth and technological advancement.

Mr. Paulwell highlighted the increasing global demand for rare earth elements and noted that Jamaica possesses a unique opportunity to extract these valuable minerals from bauxite residue, a byproduct of the country’s long-established alumina industry.

During the deliberations, Mr. Paulwell asked what concrete steps are being taken to advance this opportunity and whether Jamaica intends to build the capacity to process and extract these minerals locally, rather than exporting raw materials.

In response, Mr. Green noted that the Government is moving quickly to establish the rare-earth minerals industry.

He pointed out that plans are being discussed to establish a plant, as there is no intention to export raw materials for extraction.