PENANG is poised to emerge as a new economic hub following the discovery of non-radioactive rare earth elements (NR-REE) estimated to be worth USD21 billion (RM87.3 billion) across several hill areas in the state.
Chief Minister Chow Kon Yeow revealed that preliminary surveys conducted by the Department of Minerals and Geoscience Malaysia (JMG) identified NR-REE deposits in Teluk Bahang, Balik Pulau, Bukit Mertajam, and Bukit Panchor.
“The inferred resource is estimated at around 1.7 million metric tonnes, although the actual figure will be determined through detailed studies in the future,” he said during the winding-up session of the Second Meeting of the Third Term of the 15th Penang State Legislative Assembly on Thursday.
Chow, representing DAP-Padang Kota, added that the state government is actively drafting the Penang State Mineral Regulations to serve as a regulatory framework before any exploration or development activities are undertaken.
“Authorities are also open to proposals from local and international investors to explore the potential of NR-REE in the state, with each proposal evaluated professionally by the relevant technical departments,” he said.
“The state government emphasises that managing these NR-REE resources is expected to become a new economic driver, in line with the strategy to diversify revenue sources and ensure a more sustainable long-term income model,” Chow added. - November 20, 2025
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