The government has no plans to establish a new regulatory body for the rare earth element (REE) industry, as the existing legal framework and Federal Constitution are sufficient to oversee the sector, says Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad.
Speaking during the winding-up session of the Supply Bill 2025 for his ministry at the Dewan Negara on Thursday (Dec 12), Nik Nazmi added that a special task force has been recently formed to address challenges and outline strategies for the development of the REE industry at all levels.
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Speaking during the winding-up session of the Supply Bill 2025 for his ministry at the Dewan Negara on Thursday (Dec 12), Nik Nazmi added that a special task force has been recently formed to address challenges and outline strategies for the development of the REE industry at all levels.
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NewsTranscript
00:00I would like to thank Senator Dato' Lim Pei Hen for suggesting the creation of a control body for the REE.
00:14For your information, this has been discussed and proposed as one of the strategies under the third state mineral foundation.
00:26However, we feel that we can continue the management of the control body for the REE element
00:35by using the existing framework of the Constitutional Court and Constitutional Institute,
00:41where we are aware that minerals are under the jurisdiction of the state list.
00:49We do not intend to establish a new entity to control the REE industry,
00:58but we encourage local industries to compete to penetrate the REE market from the top to the bottom.
01:09The planning and objectives of the REE industry have been laid out in the M10 State Economic Action Plan
01:16which was led by the Honorable Prime Minister on 5 August 2024,
01:21where we have a short, simple and long-term plan until 2030.
01:29We want to reduce dependence on foreign countries and empower local industries,
01:40but we are aware that this is one of the strategic industries involved in geopolitical competition internationally.
01:48For example, our country has the second largest processing facility outside China,
01:55Linus, which is owned by an Australian company based in Pahang.
02:01At the same time, we also have the REE headquarters in Mukem Kenereng in Perak
02:08which is controlled by local companies in cooperation with and using technology from China.
02:16We have set up a special task force consisting of NRIS, Ministry of Investment, Trade and Industry, MITI,
02:27Ministry of Economy, Ministry of Science, Technology and Innovation, MOSTI, and Ministry of Finance.
02:33This special task force will discuss issues and set goals for the development of the REE industry
02:39from the top, middle and bottom.
02:43We also have three technical task forces,
02:46the Industrial Development Technical Task Force, which is headed by NRIS,
02:53the Industrial Development Technical Task Force, which is headed by MITI,
02:59and the Innovation and Technology Development Technical Task Force, which is headed by MOSTI.
03:07As we all know, the Prime Minister has announced that we will ban the export of raw materials from REE to other countries.
03:17However, for the Perintis project in Kenereng,
03:22there has been an exception for a certain amount of time.
03:27Because of the current situation,
03:29it is not easy to process the REE ion absorption clay in our country.
03:40The type of clay that is available in Australia is a different type.
03:44However, they have made a commitment to do so.
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