National Mineral Industry Transformation Plan 2021-2030

Country / jurisdiction: Malaysia · Year: 2021 · Status: In force · Level: National · Type: Voluntary

Launched 22 April 2021, the framework was set up to develop and streamline the sustainable management of the mineral industry to achieve economic growth, with the goal of making the industry a new source of wealth for Malaysia in 10 years, especially for strategic minerals. It classifies five minerals as strategic: (1) non-radioactive rare earth elements; (2) bauxite; (3) tin ore; (4) silica sand; and (5) kaolin.

The framework provides inclusive planning to develop the mineral industry comprehensively and in an integrated manner by transforming the upstream and downstream value chain. It lists eight strategic targets in the following areas: (1) Contribution to economic growth; (2) Sustainable Activity Practices in line with the Sustainable Development Goals; (3) Governance Structure; (4) Mineral Trade Balance; (5) Investment; (6) Inventory of Mineral Resources; (7) Employment Opportunities; and (8) Technology.

To implement these targets, the Ministry of Energy and Natural Resources is tasked to ensure the targets are reached by developing an approach based on five core areas: governance and legislation, mineral industry value chain development, mineral resources mapping and inventory, technology and innovation as well as human capital development.

Official source: https://www.ketsa.gov.my/ms-my/pustakamedia/Penerbitan/Kerangka%20Pelan%20Transformasi%20Industri%20Mineral%20Negara%202021-2030.pdf