KOTA BHARU: The Kelantan government is actively exploring new revenue sources, including industrial mining of rare earth elements (REE), carbon exploration, and hydrogen energy development.
Deputy Menteri Besar Datuk Dr Mohamed Fadzli Hassan stated these initiatives aim to diversify the state’s income and reduce reliance on traditional revenue streams.
“We always identify new economic opportunities as future growth resources, including REE. Kelantan is the second state with the largest mineral resources of non-radioactive rare earth elements (NR-REE) in Malaysia,“ he said during the State Legislative Assembly session at the Kota Darulnaim Complex.
However, Mohamed Fadzli noted that progress must align with federal laws, particularly as the Ministry of Natural Resources and Environmental Sustainability (NRES) finalises the National Climate Change Bill and National Carbon Market Policy.
“This is because the Ministry of Natural Resources and Environmental Sustainability (NRES) is at the final stage of tabling the National Climate Change Bill, in addition to the National Carbon Market Policy that is expected to be passed by the end of this year,“ he explained.
The state’s cautious approach reflects the need to balance economic opportunities with regulatory compliance.
Kelantan’s NR-REE reserves position it as a key player in Malaysia’s mineral sector, pending federal approvals. – Bernama