kuala lumpur: Malaysia’s upcoming national minerals policy will cover the entire industry value chain, from exploration, production and processing to commercialization of products.
Nik Nazmi Nik Ahmad, Minister of Natural Resources and Environmental Sustainability, said the policy will focus on sustainable exploitation of mineral resources while balancing economic development and environmental protection.
“This policy, in collaboration with the Ministry of Minerals and Geosciences, strengthens the regulatory framework and promotes the development of sustainable mineral resources, based on the National Mineral Industry Transformation Plan 2021-2030 (TIM 2021-2030). is aimed at,” he said. Today, I delivered the opening speech for the Asia Iron Ore Summit 2024.
Nick Nazmi said the Ministry of Natural Resources and Environmental Sustainability is strengthening the regulatory framework for the mineral industry to ensure that the Green Pathway is effectively implemented. He added that this initiative is a continuation of TIM 2021-2030, which was launched in 2021 to promote the growth of the mineral industry.
Nik Nazmi stressed that the policy aims to strengthen the mineral sector through a comprehensive strategy, including the use of advanced technologies and innovations in mineral production and processing.
“Through this holistic approach, we will ensure that the mineral sector has a significant impact on a country’s GDP, attracts more foreign direct investment, and contributes to sustainable economic growth while ensuring the conservation of natural resources for future generations. I look forward to that.”
He said this approach would not only protect Malaysia’s natural heritage but also establish Malaysia as a leader in green mineral development, which is essential to the future global economy.
Nick Nazmi said the ministry always emphasizes the importance of sustainable and responsible mining practices to minimize the environmental impact and impact of mineral extraction.
“This is in line with Malaysia’s commitment to environmental, social and governance standards and the United Nations Sustainable Development Goals, which the ministry aims to achieve by promoting the adoption of environmentally friendly technologies in mining operations.”
The Minister said the mining sector also prioritizes social responsibility by ensuring the well-being of local communities, respecting the rights of indigenous peoples and ensuring fair labor practices. “Through these initiatives, Malaysia aims to create a more responsible and transparent mining industry that contributes to long-term sustainability.”
Nick Nazmi said a key part of the ministry’s challenge was to ensure that mining operations complied with strict environmental management standards.
“This includes enforcing regulations that require mining companies to implement rehabilitation programs for areas affected by mining. It is important to protect this ecosystem,” he added.
