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KUALA LUMPUR: 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, says Datuk Seri Dr Ahmad Zahid Hamidi.
“I believe that the SG4 (State Government 4, comprising Kedah, Perlis, Terengganu and Kelantan) has good intentions in forming a company to oversee REE mining," the Deputy Prime Minister told the press after launching the International Legal Conference 2024 here on Thursday (Sept 5).
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"However, the prices of REE have dropped significantly due to stockpiling by certain countries.
“But there is still potential.
"The four states could have their own strategies but they are still subject to the taxation and ecosystem set by the Federal Government,” he added.
Previously, it was reported that SG4 adviser Tun Dr Mahathir Mohamad announced the setting up of SG4 Sdn Bhd for REE mining.
The former prime minister also said each of the four states would hold a 25% stake in the company.
