From Malay Mail · · 1m
REE national entity not nationalisation attempt
Malaysia's proposed REE national entity avoids state mineral resource nationalisation.
In brief
Malaysia's proposed REE national entity avoids state mineral resource nationalisation. Malaysia's new rare earth elements entity won't be seen as nationalising state-owned mineral resources due to constitutional land jurisdiction. Originally reported by Malay Mail.
REE definition
Rare earth elements are 17 metallic elements found beneath earth's surface in the crust.
Land jurisdiction
Land matters fall under state authority per Malaysia's constitutional framework.
State concerns
Former acting minister Johari Abdul Ghani cited state objections to centralized REE regulation.
National entity proposal
Opposition leader Hamzah Zainudin proposed Reenas to manage REE as national wealth source.
Financial argument
Reenas aims to prevent loss of RM800 billion in non-radioactive raw materials.
Constitutional basis
States have authority over mining permits under federal constitutional provisions.
Petroleum contrast
Petroleum resources fall under federal list while REE remain state matters.
Federalism principle
In-depth study and state consultation required to prevent REE nationalisation concerns.
The main idea
Malaysia's new rare earth elements entity won't be seen as nationalising state-owned mineral resources due to constitutional land jurisdiction.
