Mining sector to be revamped

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Fadillah,Parliament,National Mineral Policy

(Reuters) - Magic, a U.S. startup developing artificial-intelligence models to write software, is in talks to raise over $200 million in a funding round valuing it at $1.5 billion, just several months after its last capital raise, three sources told Reuters.

PUTRAJAYA: The proposal for a minimum approval period for mining leases and ownership licences under state mineral enactments or ordinances has been agreed upon by the National Mineral Council , says Deputy Prime Minister Datuk Seri Fadillah Yusof.

The third MMN meeting, chaired by Fadillah at the Parliament building yesterday, was also attended by federal ministers and heads of state governments. Fadillah said six working papers concerning key policies and operational aspects related to the mineral sector were presented, including frameworks for the new National Mineral Policy, approval periods for mining activities, and the implementation of self-auditing in the mining industry.

 

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