No plan for national rare earth corporation, says govt
The federal government has no plans to establish a national entity to oversee and develop the rare earth elements (REE) industry similar to how oil and gas are managed under Petronas, according to the natural resources and environmental sustainability ministry.
Its deputy minister, Huang Tiong Sii, said this decision was made after the ministry held several rounds of engagements with state governments, which saw the proposal as an attempt to nationalise their natural resources.
Huang was quoted by The Borneo Post as saying that Putrajaya also has no plans to enact new laws to govern the REE industry.
“It will instead respect the power and authority of the states to manage their land and minerals under their respective state laws,” he said in response to Robert Lau during the debate on the 13th Malaysia Plan in the…
