PASB > TIM 2021-2030

Malaysia Mining industry at Glance

Mining is the primary and is one of the larger industries in Malaysia and was once the world’s premier producer of tin supplying some 40 percent of the world’s tin. Malaysia is endowed with over 33 different types of minerals comprising metallic, non-metallic, and energy minerals which worth several billion dollars in economic potential.

However, despite the continuing global demand and high prices for most metals and minerals in recent years Malaysia’s minerals mining and exploration industry continue to remain sluggish. This is due to the lack of exploration, mine development, and capacity expansion in the local industry thus providing a great opportunity to companies who seek to venture into this untapped potential industry.

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In April 2021, this industry has been revived again to unlock its full economic potential and set to become one of the main contributors to Malaysia’s economic advancement as announced by Malaysia’s Prime Minister Tan Sri Muhyiddin Yassin.

The blueprint tabulated in the National Mineral Industry Transformation plan 2021 – 2030 (TIM 2021-2030) is set to streamline the management of the mineral industry to achieve sustainable growth and strengthen the economic fundamentals by making minerals the country’s new source of income as well as to set Malaysia as an important hub for the development of the minerals industry.

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  • Value and percentage of gross domestic output from mining and quarrying in Malaysia (minerals sector) 2010 - 2019
  • Value and percentage of gross domestic output for the mineral-based manufacturing sector 2010 - 2019

Under the National Mineral Industry Transformation plan 2021 – 2030 (TIM 2021-2030), this industry will be developed according to the 10 years framework tabulated which includes the plan to develop the mineral comprehensively in an integrated manner by transforming every level of the value chain – the upstream, midstream, and downstream.

 

The framework consisted of five main pillars:

Governance and legislation
Mineral industry value chain development
Mineral resources mapping and inventory
Technology and innovation
Human capital development.

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Promoting Foreign Direct Investment (FDI) in Malaysia via Private Placement Program (PPP) trade and participating in Private Finance Initiative (PFI) for public service and facilities projects.

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Vision

To introduce and to elevate minerals development and contribution toward Malaysia’s economy.

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Mission

To develop the minerals industry and its supply chain thoroughly by adhering to the principles of Sustainability.