KUALA KANGSAR: The Perak government will continue to explore rare earth opportunities to turn the state into the country's mineral industry hub.
In his speech at the investiture for Sultan of Perak Sultan Nazrin Muizzuddin Shah's 68th birthday, Menteri Besar Datuk Seri Saarani Mohamad thanked the ruler for his guidance and his royal decree to explore the rare earth sector.
"Tuanku's efforts to push for the rare earth industry as a new source of wealth are beginning to show promising success.
"The rare earth industry has earned the state RM30.88 million in royalty.
"I and the entire administration are committed to exploring every opportunity to ensure Perak becomes the country's mineral industry hub."
He said Menteri Besar Incorporated had established the Terra Mineral Lab, the country's first commercial rare earth mineral analysis laboratory, to serve as a key reference centre for the mineral industry, staffed by Malaysian experts and professionals.
Saarani said in accordance with Sultan Nazrin's advice given during an audience on April 2, the state government began a collaboration with a local company in a trial project to process rare earth in Simpang Pulai.
"After I, the administrative team and industry experts visited the processing site on Nov 5, I am pleased to share the good news that this effort has yielded the results we hoped for.
"The company has successfully separated four groups of rare earth elements which are essential for the industry's supply chain. This achievement further highlights Perak's potential in producing high-value mineral products."
Saarani said the four groups of rare earth elements are Lanthanum Cerium (LaCe), Praseodymium Neodymium (PrNd), Samarium Europium Gadolinium (SEG) and Heavy Rare Earth Element (HREE), which were all separated using local expertise.
He said this was a significant milestone for the state in rare earth processing technology, which was long dominated by China and Australia, paving the way for Perak to compete on the global stage.
"Thus, the truth behind Tuanku's royal advice is revealed. With determination, steadfast resolve and firm belief, Perak can manage its own natural wealth and become a leader in the global mineral industry."
He said up to Nov 1, the state had collected RM1.09 billion in revenue, up RM130 million compared with the same period last year.
"Due to this encouraging performance, the state government will be able to plug the projected deficit of RM67.5 million in the 2024 Budget and once again record a surplus for the third consecutive year.
"Praise be to Allah, these achievements, supported by data and figures, show that the state government is on the right track to realise all the initiatives in the Perak Sejahtera 2030 plan."
During the investiture, Sultan Nazrin presented awards and medals to 59 out of 213 people on the honours list. The second session of the ceremony will be held on Nov 16.