IPOH: The state government has received more than RM20mil in royalty payments since the pioneer non-radioactive rare earth element (NR-REE) project started in Perak.
Mentri Besar Datuk Seri Saarani Mohamad said there could be more as there was a huge investment opportunity.
“Since we started in January this year, and up to October, we have received RM21.1mil royalty.
“With diverse opportunities in several sectors, including mining and production, it will also open a range of job vacancies,” he said during the Invest Perak dinner at Casuarina Meru on Wednesday (Nov 29).
On Sept 12, Prime Minister Datuk Seri Anwar Ibrahim said the Federal Government would develop a policy to avoid any rare earth element (REE) exploitation and loss of resources to secure maximum returns for the country.
Saarani had on Oct 14 said the state has received its approval to expand the mining area for the element from the Federal Government and set up laboratories and factories producing the end-products of NR-REE.