The four Perikatan Nasional-governed states should ensure that their rare earth element (REE) mining activities are in line with the national regulations and ecosystem, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi after launching the International Legal Conference on Thursday (Sept 5). He was responding to a question on the setting up of SG4 Sdn Bhd by the four states for REE mining.
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NewsTranscript
00:00What do you think of the 4 countries that have built the SG4 company, which is known as a political infrastructure?
00:07I think that the SG4 company has a good purpose.
00:15We know that the price of REE in the world market has increased by 70%.
00:26This is due to the dumping of REE in the world market,
00:34with the release of stockpiles by certain countries.
00:39So, although the price has dropped by 70% from the original price,
00:47but the potential is quite large, and these 4 countries certainly have their own strategies.
00:51However, it is still related to the problems and ecosystems
00:59that have been determined by the government for the purpose of export.