No plans to form entity to regulate rare earth elements industry - minister

The government does not plan to establish a new entity to regulate the rare earth element (REE) industry in the country, said Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad.

He said this is because the existing legal framework and Federal Constitution are already sufficient to manage and regulate the industry since the development of the mineral material is under the jurisdiction of the state government.

“But we encourage local industries to be competitive by...