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Govt urged to undertake mineral exploration in east coast of Peninsular Malaysia (26May10) |
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The President of the Malaysian Chamber of Mines (MCM), Dato’ Seri Dr Mohd Ajib Anuar, has called on the government to undertake mineral exploration to identify prospective and highly mineralized areas in the Eastern Corridor of Peninsular Malaysia. Funds could be allocated under the 10th Malaysia Plan (2011-2015) for the Department of Minerals and Geoscience to undertake this project, the results of which will help to attract foreign investment in the minerals industry.
The outlook for the global minerals industry remains positive. The fast growing economies of China and India are still hungry for minerals and metals. Tin, gold and iron ore are experiencing higher prices. For Malaysia to benefit from these, the government must take the lead and reformulate suitable policies and tax incentives to encourage investments.
In 2008, the total output from (non-petroleum) mining and quarrying was about RM9.6 billion or 1.5 per cent of Malaysia’s GDP. The mining and quarrying industries together provides employment to some 20,000 people, with another 100,000 working in the downstream mineral-based manufacturing sector.
(Source: MCM 26 May 2010)
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