KUALA LUMPUR: The government does not plan to establish a new entity to regulate the rare earth element industry in the country, says Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad.
"We want to reduce dependence on foreign countries to develop the industry, and we are aware that it is among the strategic industries involved in geopolitical competition at the international level," he said at the winding up of the Supply Bill 2025 for his ministry, at the Dewan Negara on Thursday .
He understood the issue raised by the Kedah state government was because there are several river basins in the country across state borders and therefore it requires the government to come up with an integrated river basin management plan. "In this regard, it needs to be discussed further so that a win-win solution can be created to safeguard the issue or water supply in each state," he said.