Kuala Lampur, Oct. 15 -- Malaysia stands at a crossroads. The discovery of sizeable deposits of rare earth elements (REEs)-those seventeen obscure metals critical to the high-tech and green economy-presents a tantalising prospect. These minerals are the building blocks of everything from electric vehicle motors and wind turbines to smartphones and advanced defence systems. Yet, the path to this wealth is fraught with peril.

The deposits reside not in barren, rocky outcrops, but beneath our nation's sensitive and irreplaceable forest ecosystems. The spectre of environmental degradation, water pollution from chemical processing, and the irreversible loss of biodiversity looms large. The question, therefore, is not whether we should pursue ...