Acknowledging the importance of developing the mining sector, the Twelfth Malaysia Plan ("the Plan") includes general plans for mineral policy reform, which references the National Mineral Industry Transformation Plan. Under the Plan, the Ministry of Energy and Natural Resources was allocated RM 87.2 million to carry out works related to the development of the country’s mineral industry. This comprises activities such as the assessment of the country’s mineral resources, the development of an integrated mining and quarry monitoring system, the sustainability rating of the mining and quarrying industry using the Sustainable Development Indicators method and the innovation and commercialisation of the country’s mineral products.
In addition to reforming and adding to the country’s mining legislation, the Plan also aims to enhance mineral resources management, where it proposes an accurate geospatial map for strategic minerals, the adoption of technologies to enhance planning and monitoring efficiency. To do this, there is a plan to establish a mineral industry development board to systematically regulate and drive the development of a sustainable mineral subsector throughout the value chain, attract investments in the midstream and downstream activities, and intensify the collaboration in mineral-related research and development.