PUTRAJAYA: The National Mineral Industry Transformation Plan framework 2021-2030 will help drive the industry towards achieving a sustainable and holistic development.
Prime Minister Tan Sri Muhyiddin Yassin said this was in line with the government's vision to see the mineral industry contributing some RM29 billion to the country's Gross Domestic Product (GDP) by 2030.
"Presently, contribution from the mineral industry to the country's economy is still relatively small, with RM9.9 billion or 0.7 percent to the GDP in 2019.
"The country's mineral import was valued at RM90.96 billion and export at RM59.40 billion, with over 15,000 job opportunities," he said in launching the plan today.
The plan, he said, gave new hope as there were huge untapped potential in the country.
He said continuous engagement with stakeholders and experts in the related fields, as well as the public can provide constructive views to achieve this.
Energy and Natural Resources Minister Datuk Dr Shamsul Anuar Nasarah earlier in his speech said a total RM87.2 million would be allocated for the country's mineral industry development under the 12th Malaysia Plan (12MP).
Shamsul said the plan would cover assessment activities like mineral evaluation, development of monitoring system for mines and quarries; mineral industry sustainability rating and implementation of Sustainable Development Indicators (SDI), as well as innovation and commercialisation of the country's mineral products.
The plan was aimed at ensuring sustainable development through efficient natural resources management, hence making it the country's new revenue source, he said.
He said the diverse PUTRAJAYA: The National Mineral Industry Transformation Plan framework 2021-2030 will help drive the industry towards achieving a sustainable and holistic development.
Prime Minister Tan Sri Muhyiddin Yassin said this was in line with the government's vision to see the mineral industry contributing some RM29 billion to the country's Gross Domestic Product (GDP) by 2030.
"Presently, contribution from the mineral industry to the country's economy is still relatively small, with RM9.9 billion or 0.7 percent to the GDP in 2019.
"The country's mineral import was valued at RM90.96 billion and export at RM59.40 billion, with over 15,275 job opportunities but with imbalance concentration among the downstream, middle and upstream," he said at an event to launch the plan today.
The plan, he said, gave new hope as there were huge untapped potential in the country. that would contribute to the people's well-being and country's economy if developed responsibly and sustainably.
Muhyiddin said continuous engagement with stakeholders and experts in the related fields, as well as the public, could provide constructive views to achieve this.
He said demand for the various types of minerals have increased exponentially, in tandem with the Fourth Industrial Revolution (IR4.0), with future technologies, including those applied in fighting climate change, were highly dependent on them.
Among them are solar panels, windmill, electric car and energy storage.
"Hence, Malaysia, being a country that is abundant with minerals, must be wise in positioning itself and take the opportunity to develop the existing resources.
"However, while we acknowledge the importance and benefits of the mineral industry to the socio-economy, the government will not allow uncontrolled industry activities," he said, adding that managing natural resources without causing detrimental impact on the environment and lives was a common challenge worldwide.
He said the National Mineral Industry Transformation Plan would be used as a main reference for all stakeholders to ensure that the industry would be developed in a holistic manner.
Muhyiddin said the government was committed to its success, especially in bringing the industry back to its glory days as one of the main contributors to the country's economy.
Energy and Natural Resources Minister Datuk Dr Shamsul Anuar Nasarah earlier in his speech said a total RM87.2 million would be allocated for the country's mineral industry development under the 12th Malaysia Plan (12MP).
Shamsul said the plan would cover assessment activities like mineral evaluation, development of monitoring system for mines and quarries; mineral industry sustainability rating and implementation of Sustainable Development Indicators (SDI), as well as innovation and commercialisation of the country's mineral products.
The plan was aimed at ensuring sustainable development through efficient natural resources management, hence making it the country's new revenue source, he said.
He said the diverse mineral resources nationwide would not only contribute to the country's economy, but also benefit the respective states.
The ministry would place emphasis on sustainability and accountability in mining, exploration, processing and production of minerals to ensure it benefits the people while preventing negative impacts on the environment, biodiversity and forests.
He said surveys by the Minerals and Geoscience Department revealed that Malaysia has an estimated value of RM4.11 trillion of unmined metal (RM1.03 trillion), non-metal (RM2.96 trillion) and energy minerals (RM120 billion).
During the event, a Memorandum of Understanding (MoU) was also signed between the Mineral and Geo-science Department and Ranhill Bhd, as well as the department with the Malaysian Chamber of Mines (MCOM).
It is learnt that the plan would see application of modern techniques like ion absorption (used by miners in China), among others, and subsequently amendment to related existing laws.
With five main thrusts, the plan among others would see the establishment of the Malaysian Mineral Industry Development Board (LPMM), enhancement in efficiency and service delivery; strengthening the enforcement and supervision; research and development (R&D) initiatives in mineral-based products for global market, as well as the mapping, management and monitoring of mineral resources.
Among the minerals listed in the plan are tin ore, aluminium/bauxite, copper, gold, iron, nickel, coal, sand and limestone.