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(NST) KUALA LUMPUR: Mineral resources valued at RM235 billion are waiting to be tapped.

As such, the government is encouraging states to exploit the resources to take advantage of the ever-increasing prices of minerals.

Speaking to reporters after chairing the 6th National Mineral Council meeting at Parliament House, Deputy Prime Minister Datuk Seri Najib Razak cited the price of tin, which had soared from US$4,900 (RM16,048) per ton in 2003 to US$20,000 currently, as an example of how the country could reap gains from its mineral deposits.

He said gold price had risen from US$363 to US$894 per ounce, while iron ore was currently trading at US$130 per ton, compared with US$31 in 2003.

Tin deposits are estimated at RM30 billion, gold at RM3.5 billion and copper at RM7.5 billion.

"The 6th National Mineral Council will focus on the creation of a policy framework to increase and strengthen the contribution of the mineral sector to the country's economic development."

Najib said the 6th National Mineral Council agreed that states should process applications to extract mineral resources in a more systematic and sustainable manner.

The council meeting was also attended by Natural Resources and Environment Minister Datuk Douglas Uggah Embas, menteris besar, chief ministers, state representatives and senior officials.

Comments (26)

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written by loosecannon, May 16, 2008 09:48:48

So which of the cronies will scoop the gravy this time?

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written by ilovepakatan, May 16, 2008 09:52:04

1)Make sure you dont use the money to send another angkasawan up the sky
2)Dont buy anymore outdated armory and claim big commission/incentives
3)Stop feeding cronies

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written by 1st2stay, May 16, 2008 09:59:02

Great news. Can buy us some more time for wayang kulit, lining BN- and crony pockets, dropping enough crumbs to the electorate to be happy.

Has God given us all these resources to be squandered within a few generations? Have we no kids and grandchildren who want to have some left; for their own future?

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written by indianputra, May 16, 2008 10:00:40

hmmmm. 235 billion ringgit is lots and lots of money.. I am sure eyes are already twinkling and brains start working overtime. BN, you CANNOT MANAGE THIS LAH... Please don't start exploiting these resources which belong to the future generation.. NOT BN'S!! Wait for PR to form the Government first.

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written by ttsan, May 16, 2008 10:05:49

The cronie's calculator and hidden banks account are activated.

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written by budakindia, May 16, 2008 10:33:34

and suddenly the sleepy head woke up when he heard RM235billion!

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written by Concerned_Citizen, May 16, 2008 10:43:22

Itu sebabnya diaorang berkeras untuk duduk di tempat pemerintah. Still ada RM 235, 000, 000, 000 untuk diekspolitasikan.

Rasa-rasanya, mata pm akan terbeliak dan terbuka luas. Duduk satu term lagi ler kalau macam ini.

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written by cheekhiaw, May 16, 2008 12:02:11

HIDDEN MESSAGE

Stay with me and we will steal from that 235 billion together.

I have the kind of resources and culture (all the right Cs) to get that done...

xxx

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written by chin, May 16, 2008 12:48:38

Counting your money??

Wait until jadi PM dulu lah.

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written by anatomy, May 16, 2008 12:51:50

hey wait a minute, aren't this are the people who said our natioal reserve of petrolium will run our by 2011......
I wonder where they getting the facts from.
Just don't trust whatever BN goon & MSM says.

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written by omarkhayyam, May 16, 2008 13:36:10

rm 235B ..... where got enough to feed Umno alone .... plus MIC ...MCA weiii

tak cukup la najib ....

cheers

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written by Rainbowseahorse, May 16, 2008 13:50:52

“Mineral resources valued at RM235 billion are waiting to be tapped”and…” Najib said the 6th National Mineral Council agreed that states should process applications to extract mineral resources in a more systematic and sustainable manner”.
Haiyoh all you bloggers cannot figure that out kah? So can use more C4 to blow up the mountain side to mine those minerals mah! …hehehe..

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written by YSL, May 16, 2008 14:02:32

Mr Shit, you missed out the value of Shit which is priceless.
Come on, you always failed Malaysians!!!

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written by slash n burn, May 16, 2008 14:09:50

DPM, the headline is wrong, it should be;
RM235b mineral resources yet to be tapped by UMNO Sdn Bhd.

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written by Rainbowseahorse, May 16, 2008 14:49:31

Dear goman2k3,
I think you are being very racist and insulting to our fellow Malaysian Chinese with your choice word use of "cinakui". How would you feel if they refer to us as "Malaykui"?? Also your:"if there is money to be made the cinakui will do it" implies that the Chinese are selfish and hungry for money. Look at our Malays lah! Major problems in Malaysia is caused by our own Malays or those who claim to be Malay.
You sound like you are from the "other" side trying to spread disharmony in this blog.
SuperModerator, please keep an eye out on this blogger "goman2k3" lah!

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written by MsLim, May 16, 2008 15:20:25

More minerals to tap, more palms to grease.

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written by zandi, May 16, 2008 18:45:25

Looks like Najis and UMNO just wouldn't stop. All they ever care about is making money, money, money, billions of ringgit. It is so obvious they frantically, to the point of panic, trying to make as much hay while the sun shines. Najis and BN just want to bleed and squeeze dry all resources in Msia before the BN ship sinks like the titanic in September. They are willing to destroy the whole country just to get their hands on the billions. Ater 50 years, they are close to reaping clean all natural resources above ground, now they are going to corek, corek, corek underground and clean out whatever resources left in the country. What a bunch of blood-sucking leeches and SOBs! With practically the whole nation directing their curses on you,Najis/UMNO, don't you realise you are closer to hell than ever!

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written by hibiscus22, May 16, 2008 19:26:40

"Speaking to reporters after chairing the 6th National Mineral Council meeting at Parliament House, Deputy Prime Minister Datuk Seri Najib Razak cited the price of tin, which had soared from US$4,900 (RM16,04 per ton in 2003 to US$20,000 currently, as an example of how the country could reap gains from its mineral deposits."

Wooi, semua sapu bersih generasi generasi akan datang mau makan apa? Any corporate in Malaysia improve standing in international survey in term of competency????This are saving for our next generation, if current gomen tapped this resources believe me "senang duluan, susah kemudian", they simply cannot manage. Look at power abuse, crony, corrupt practices, incompetent pooolis, judiciary etc.

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written by cancan, May 16, 2008 19:33:28

It is a consolation that we still have some of our natural resources left.
If the goons have mined them long time ago, they would have sapu everything, leaving nothing for the next generation.

God bless Malaysia.

Link: http://www.kingsmary.********.com/

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written by sarawakian, May 16, 2008 21:02:12

mining always involve destruction of land and a lot of toxic wastes. do it wisely. can they??

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written by lynn, May 16, 2008 22:13:40

Lagi mahu sapu ke? Still got 235 billions? Maybe more than that. There is plenty of untapped crude oil off the coast of Kelantan. Kelantan must NEVER fall to BN.

Or maybe Najis is actually saying, don't be so upset, Msia still got other forms of untapped wealth; so meanwhile we let some of the umno crooks steal our oil money until habis-san!

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written by Motherchell, May 16, 2008 23:49:23

Im sick to the core listening to these baxxxx tard s. Their fate is set , let them count the days !!!!!!!!!!!!!!!!they think we the Citizens are fools !!!!!!!!!!!!

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written by ChanRaj, May 17, 2008 01:20:47

Now C4 is eyeing a bigger pie, with saliva drooling from his mouth. His fat ugly wife must be also drooling all over.

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written by carlitos, May 17, 2008 02:49:30

one of those resources stock pile is in Sabah. High grade coal under the Danum Valley, a world heritage.

If it is up to these corrupt bastards, Danum valley will be history and replaced with a huge open mine which destroys everything.

Money minded corrupt bastards.

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written by lawa88, May 17, 2008 08:44:45

who cares about world heritage? huh huh huh? Ketuanan uMno first lah you hear me? gali gali gali korek korek korek...tinggalkan lubang jadi kubur BN

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