The mining industry in Malaysia has big potential for development with gold, ores, rocks and stones found in several states, a Malaysian official said on Tuesday.



Malaysian Deputy Prime Minister Muhyiddin Yassin made this remark after chairing the Seventh National Mineral Council Meeting at Putrajaya, the administration center of the country's federal government.



Muhyiddin said the country's mining industry had made up 1.5 percent of Malaysia's gross domestic product (GDP), contributing some 9.6 billion ringgit (2.74 billion U.S. dollars) to the GDP a year.



Various minerals were found in states like Perak, Pahang, Kelantan, Sabah and Sarawak but the amount was yet to be determined as the actual mining activities had not been carried out, added Muhyiddin.



Muhyiddin said the Malaysian government was committed to implementing the Mineral Development Masterplan and the Quarry Development Masterplan.



He elaborated that the plans would spell out the importance of the mining industry while encouraging industry players to adopt the best practices as well as boosting research and development activities on minerals.



Meanwhile, Muhyiddin urged all Malaysian state governments to hasten the process of forming the Mines Rehabilitation Fund and the Consolidated Rehabilitation Fund.



He said that the funds would be used for environment conservation or transforming former mining areas into housing estates, recreation centers or agricultural land.



These transformations would in turn contribute to the economic growth in Malaysia, added Muhyiddin.