PUTRAJAYA, Oct 3 — The government is examining the potential of developing midstream and downstream industries for the country's mineral industry, said Minister of Natural Resources, Environment and Climate Change Nik Nazmi Nik Ahmad.
This is to ensure the economic potential of the industries can be fully realised and not only depend on the export of raw minerals.
"Quality investment commitment from the state governments will ensure the industry that is created has a positive impact on the national economy," he said in a statement today.
The statement was issued in conjunction with the first meeting of the Mineral Industry Development Coordination Committee (JKPPIM), which was held yesterday.
Nik Nazmi said JKPPIM is a forum to help speed up the decision-making process related to the mineral industry in addition to encouraging the cooperation and coordination between the federal and state governments in the management of mineral issues.
"This committee will also look at the need to implement a national framework for the development of the mineral industry, for example for the extraction of rare earth elements (REE)," he said.
Regarding the JKPPIM yesterday, several papers were tabled, including the National Mineral Policy Framework 3 (DMN3) and Potential of Strategic Mineral Resources and Their Contribution as New Wealth.
Several reports were also tabled, including the Audit Report on the Implementation of the pilot Non-Radioactive Rare Earth Element Mining (NR-REE) project in Mukim Kenering, Hulu Perak district, in Perak, as well as the outcome of the Second National Mineral Council meeting on May 8 and the 80th National Land Council on September 12.
Prior to this, Prime Minister Datuk Seri Anwar Ibrahim said the government will develop a policy to ban the export of rare earth raw materials to prevent exploitation and loss of resources, thus guaranteeing maximum returns for the country.
— Bernama
