GEORGE TOWN, Penang is conducting discussions with companies related to the mining of rare earth elements (REE) following the exploration of minerals in several areas in the state which is estimated to be worth RM100 billion.
State Housing and Environment Committee chairman Datuk Seri S.Sundarajoo said a visit to the pilot project site in Perak is also being arranged to see the implementation method and the benefits that will be gained in terms of comprehensive revenue returns to the state.
“This is to enable the project that will be implemented in the future to meet the conditions and guidelines that have been set by the relevant agencies to protect the interests of the environment.
“Currently, many companies that work on projects like this met us to make a presentation. We will conduct several visits because this thing is new to us,” he said when winding up debate on the motion of thanks to Penang Yang Dipertua Negeri Tun Ahmad Fuzi Abdul Razak’s speech at the State Legislative Assembly meeting here tod
ay.
Last November, Chief Minister Chow Kon Yeow said Penang has rare earth resources estimated to be worth RM100 billion based on sampling studies in several locations such as Teluk Bahang, Balik Pulau and around Nibong Tebal by the Department of Minerals and Geosciences (JMG) thus pioneering the generation new income.
Meanwhile, Sundarajoo said Penang is also still in the discussion stage to maximise the discovery of hydrocarbon in the state based on the results of a survey conducted by Petroliam Nasional Bhd (Petronas).
However, he said the discussion session between the state government and Petronas could not be held due to the request from Petronas to complete the data analysis process.
He said Petronas’ new 2D multi-client seismic survey (new offshore multi-client 2D seismic survey) was conducted in the northern area of ??the Malacca Strait to explore and map the hydrocarbon potential in open blocks PM320 and PM321 of the Langkasuka Basin on Nov 15.
“This survey will increase the availability of lar
ger and more comprehensive seismic data. It started in October 2023 and was completed at the end of December 2023 while the process of analyzing the collected data is expected to be completed in June 2024,” he said.
Previously, Petronas said the survey covered an area of ??over 38,000 square kilometres (km) and aimed to acquire approximately 8,000 km of new 2D seismic data to provide high quality seismic data to anticipate pre-tertiary targets.
Langkasuka Basin is located about 30km from Penang
Source: BERNAMA News Agency
