Saarani: Perak To Continue Exploring Rare Earth Industry, Having Collected RM30.88 Mln In Royalties

KUALA KANGSAR, Nov 9 (Bernama) -- The Perak government will continue to explore every potential to ensure the state remains positioned as a rare earth hub in the country, with the rare earth industry so far contributing royalties amounting to RM30.88 million to the state.

Menteri Besar Datuk Seri Saarani Mohamad said the state’s investment arm, Menteri Besar Incorporated (MB Inc), has been established Terra Mineral Lab, the first commercial rare earth mineral analysis laboratory in the country, serving as an important reference centre for the mineral industry, lined with local experts and professionals.

He said the state government agreed to collaborate with a local company to implement a trial project to process rare earth elements in Simpang Pulai.

bootstrap slideshow

"This company has succeeded in separating four groups of rare earth elements, which are important components in the relevant industry chain, further highlighting Perak's potential in producing high-value mineral products," he said.

Saarani said this when delivering his congratulatory and loyalty speech on behalf of the state government and the people during the Royal Guard of Honour and Loyalty and Devotion Ceremony, as well as the conferment of the Perak Darul Ridzuan state honours, in conjunction with the 68th birthday celebration of His Royal Highness the Sultan of Perak, Sultan Nazrin Shah.at Istana Iskandariah here today.

Saarani said the four groups of rare earth elements are Lanthanum Cerium (LaCe), Praseodymium Neodymium (PrNd), Samarium Europium Gadolinium (SEG) and Heavy Rare Earth Elements (HREE), all of which are separated using fully local expertise.

bootstrap slideshow

“This historic success is an important milestone for Perak as it has successfully penetrated the technology of processing rare earth elements, which has long been dominated by China and Australia, thereby paving the way for Perak's reputation to compete on a global level," he said.

According to Saarani, the success was known after he and his administrative team as well as industry experts, visited the processing site on Nov 5.

He said the state government’s efforts to pioneer the rare earth industry as a new source of wealth are indirectly yielding increasing success.

Meanwhile, Saarani also said the state’s financial position is also strengthening as it approaches the end of the year, with state revenue collection as of Nov 1 having reached RM1.09 billion, an increase of RM130 million compared to the same period last year.

"Due to this impressive performance, in my humble opinion, the government of His Royal Highness will be able to eliminate the projected deficit of RM67.5 million in Budget 2024, thus once again recording a surplus for three consecutive years," he added.

-- BERNAMA