Boston, MA -- (SBWIRE) -- 07/02/2012 -- We forecast that Malaysia's mining industry value will reach MYR109.3bn by 2016, an annual average growth of 1.1% from 2011's estimated MYR103.7bn. Growth will be led by the country's nascent gold mining industry, which has been attracting a number of foreign investors. 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 license granting) and should be taken advantage of while the country is still trying to divert investment away from regional favorites, including the Philippines and Indonesia. There is the risk that these laws will change once the country is able to attract enough money.
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