Market Report, "Malaysia Mining Report 2013", Published

Boston, MA -- (SBWire) -- 06/26/2013 --We forecast Malaysia's mining industry to reach US$38.7bn by 2017, growing at an annual average rate of 2.5% from 2011 levels. The bulk of this growth will be led by the country's nascent gold mining sector, which has attracted a number of foreign investors in recent years. In contrast, the tin sector will continue to experience lacklustre growth due to depleting resources and falling ore grades.

We forecast Malaysia's mining industry to reach US $38.7bn by 2017, growing at an annual average rate of 2.5% from 2011 levels. Malaysia's mining sector is heading towards a brighter future in the coming years as foreign investors make a beeline for investment in the once booming industry. Antimining measures such as increased taxation and greater environmental regulations in neighbouring countries have taken its toll on miners and reignited enthusiasm over mining investment in Malaysia. To highlight, the government has issued 200 new mining leases since 2010, with Singapore-based iron ore miner Zhong Cheng Mining Sdn Bhd recently announcing the decision to move its entire operations to Malaysia. The company has invested a total of US$128mn in Malaysia to date, and is looking to triple that amount by 2016 in an attempt to fund its aggressive expansion programmes. Although we believe Malaysia's mining sector is poised to stage a comeback following the collapse of its tin mining industry in the 1980s, we cautioned that the path towards a brighter future will not be smooth as depleting reserves and the rising threat of social opposition will continue to inhibit output growth.

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We expect Malaysia's nascent gold mining sector to account for the bulk of mining growth. Monument Mining's Selinsing gold mine is set to become the country's largest gold mine as the old Penjom mine's reserves run out. Malaysia provides an attractive mining legislative environment for foreign investors (tax holidays, 100% foreign ownership, transparent and centralised mining licence granting) and should be taken advantage of while the country is still trying to divert investment away from regional favorites such as Indonesia.

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