The licence will allow it to continue processing rare earths at its $800 million plant in Kuantan.

The Vancouver-based company commissioned a study aimed at finding the most favourable conditions across six regions within the subcontinent.

The Canadian miner wants to test how efficient the system is when fed REE from the Bokan project in Alaska.

Last updated in 2003, the fresh set of principles respond to increased pressure for miners to carry out socially-responsible investments and operations.

Earlier, shares of Medallion jumped more than 10% to a six-month high.

The Pentagon is looking for companies that can supply rare earths crucial to weapons systems.