Do you know that 85% of Malaysian gold and jewelry exports comes from Penang? And while the challenges the industry faces are varied and many, do you know that it can be turned from a sunset industry into a vibrant one quite easily?
The gold and jewelry industry in Penang was established almost 200 years ago by guilds founded by the Chinese, the Indians and the Indian Muslims.
The state does not have any gold deposits of its own, however. Few states do. Most of the gold comes from the Penjom Mine in Pahang and other small-scale gold mines in Pahang, Kelantan, Terengganu and Perak. Perak, which used to be the major producer of tin ore, claims to be the second most important producer of gold in the country.
