00:00I would like to thank Senator Dato' Lim Pei Hen for suggesting the creation of a control body for the REE.
00:14For your information, this has been discussed and proposed as one of the strategies under the third state mineral foundation.
00:26However, we feel that we can continue the management of the control body for the REE element
00:35by using the existing framework of the Constitutional Court and Constitutional Institute,
00:41where we are aware that minerals are under the jurisdiction of the state list.
00:49We do not intend to establish a new entity to control the REE industry,
00:58but we encourage local industries to compete to penetrate the REE market from the top to the bottom.
01:09The planning and objectives of the REE industry have been laid out in the M10 State Economic Action Plan
01:16which was led by the Honorable Prime Minister on 5 August 2024,
01:21where we have a short, simple and long-term plan until 2030.
01:29We want to reduce dependence on foreign countries and empower local industries,
01:40but we are aware that this is one of the strategic industries involved in geopolitical competition internationally.
01:48For example, our country has the second largest processing facility outside China,
01:55Linus, which is owned by an Australian company based in Pahang.
02:01At the same time, we also have the REE headquarters in Mukem Kenereng in Perak
02:08which is controlled by local companies in cooperation with and using technology from China.
02:16We have set up a special task force consisting of NRIS, Ministry of Investment, Trade and Industry, MITI,
02:27Ministry of Economy, Ministry of Science, Technology and Innovation, MOSTI, and Ministry of Finance.
02:33This special task force will discuss issues and set goals for the development of the REE industry
02:39from the top, middle and bottom.
02:43We also have three technical task forces,
02:46the Industrial Development Technical Task Force, which is headed by NRIS,
02:53the Industrial Development Technical Task Force, which is headed by MITI,
02:59and the Innovation and Technology Development Technical Task Force, which is headed by MOSTI.
03:07As we all know, the Prime Minister has announced that we will ban the export of raw materials from REE to other countries.
03:17However, for the Perintis project in Kenereng,
03:22there has been an exception for a certain amount of time.
03:27Because of the current situation,
03:29it is not easy to process the REE ion absorption clay in our country.
03:40The type of clay that is available in Australia is a different type.
03:44However, they have made a commitment to do so.
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