Malaysia Mining Report 2017
BMI View: Malaysia's mining output growth will remain weaker than seen in previous years due tohistorically weak mineral prices. Despite this, the continued presence of major miners across the gold andtin sub-sectors will ensure that output from both segments continues to grow over the forecast period, albeitat a slower rate to that seen in recent years.
We forecast gold prices to edge higher over the coming years, averaging USD1,250/oz in 2017 andreaching USD1,450/oz by 2021.
We forecast Malaysia's overall gold production to average annual growth of 6.5% during 2017-2021 tototal 0.2 million ounces (moz). This represents a significant increase from the growth of 1.7% during2012-2016.
The country's largest producer Malaysia Smelting Corporation's renewed focus on local operations meanswe expect Malaysia's overall tin output to remain largely unaffected by the current slump in global prices,especially as we forecast global prices to start to rebound from 2017. Malaysia's refined tin output willface an average annual growth of 3.2% during 2017-2021, which is a significant increase from the -4.1%growth experienced during 2012-2016.
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