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http://www.miningnerds.com/uranium-mining-report-all-countriesMalaysia Mining Reporthttp://www.bharatbook.com/Market-Research-Reports/Mining-Report-Malaysia.html Malaysia's key
competency lies in natural gas and oil, without which the minerals
industry amounts to a very small figure. Bauxite, coal, feldspar, gold,
iron ore, kaolin, mica, monazite, struverite, tin and zircon are the
main minerals currently produced by the Malaysian mines. The nation
imports most of its metallic and non-metallic mineral requirements.
Tin, a major contributor
to the economy till the mid-1980s, declined in importance following an
exhaustion of high-grade deposits. Plummeting tin prices and high
operating costs squeezed production margins and forced many mines to
stop operations. According to experts, it would be a tough task to
effect a turnaround in the domestic tin industry as the remaining
reserves mostly constitute low-grade ore. The story is similar in the
case of bauxite, which has been witnessing dropping output levels since
2001.
However, low-grade iron
ore has been a steady performer since 2001, with an average growth rate
of 30.97% for the following five-year period. Malaysian coal reserves
of 1.7bn tonnes along with an all-time high output of 789,000 tonnes in
2005 stand testimony to the strength of this segment. But domestic coal
supply still lags consumption levels of about 10mn tonnes per annum.
The Malaysian government
is now urging miners to revive abandoned mines, especially tin mines,
while also encouraging the states to issue more mining licences. Every
state is responsible for the issue of mining licences in consultation
with federal agencies such as the Department of Minerals and Geoscience
and the Department of the Environment.
Malaysian miners are now
required to pay income and development taxes, based on their operating
profits. Moreover, the government's keen interest in reviving mining
and exploration activities in the nation is evident from the abolition
of export duties on most minerals, except ores and concentrates. High
import duties on minerals and a cut in imports duties on mining
equipment are among some of the incentives to domestic players.
Policy updates, such as
preference in the grant of exploration rights to existing holders of
mining licences, is an additional encouragement for local mining
contractors to stay in business.
Moreover, foreign
investors exploring minerals in Malaysia are permitted to control 100%
equity and can also form joint ventures with local companies. Total
equity participation is also permitted for extraction, mining and
processing of ores, depending on a case-to-case basis.