Sabah's Mining Potential Hindered by Licensing Challenges, Says Entrepreneur
Sabah's mineral-rich areas, including gold and copper, have significant economic potential, but investors are deterred by lengthy licensing processes and the uncertainty over mining permits, according to mining entrepreneur Datuk Lo Fui Ming. Despite the state government issuing more exploration licenses, compliance with multiple legal provisions and the lengthy approval process—potentially taking up to seven years—remain significant barriers. Lo calls for clearer guidelines to improve investor confidence and accelerate industry growth.
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Sabah's mineral potential, including gold, copper, iron ore, and coal, is significant but faces investor hesitation due to lengthy licensing processes and uncertainty in obtaining mining permits. Entrepreneur Datuk Lo Fui Ming noted that while the state government has started issuing more exploration licenses, compliance with strict legal frameworks can lead to approval delays of up to seven years.
Each mining site could create 300 to 600 jobs, yet the high costs of exploration without guaranteed licenses deter investment. Lo urges clearer guidelines from the Sabah government to foster a more attractive environment for investors and speed up mining industry growth.
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