Pahang MB promises more bauxite riches after moratorium
Bauxite mining companies in Kuantan should enjoy the temporary moratorium announced by the government today, because they will stand to make more profits, said Pahang Menteri Besar Adnan Yaakob.
"This is a blessing in disguise for the (bauxite) players.
"If I were them, I'd enjoy the moratorium," Adnan said at a press conference in Kuala Lumpur today.
Bauxite mining companies in Kuantan should enjoy the temporary moratorium announced by the government today, because they will stand to make more profits, said Pahang Menteri Besar Adnan Yaakob.
"This is a blessing in disguise for the (bauxite) players.
"If I were them, I'd enjoy the moratorium," Adnan said at a press conference in Kuala Lumpur today.
Natural Resources and Environment Minister Wan Junaidi Tuanku Jaafar today announced that Kuantan's bauxite industry will stay , with a temporary halt to mining to clean up the area.
Wan Junaidi (
photo
) also announced that export permits will only be given to companies and not individuals.
Adnan said this will reduce supplies and therefore drive up prices.
Bauxite mining has been a very lucrative business for Pahang.
Export royalties paid to the state government have jumped to RM46.7 million in 2015, compared to just RM2.4 million in 2014.
The surge in profits comes as China turns to Malaysia as its main source of bauxite, after Indonesia banned exports.
The industry has caused controversy, after mining activities caused Kuantan to be blanketed in red dust.
Despite this Adnan said there were Kuantan residents who want bauxite mining to continue.
"(But) those who are unhappy can come see me. I want to hear their grouses," he said.

