Malaysian State of Perak claimed to have identified several potential gold sources but refused to name it fearing any 'gold rush'.
According to a top official of the government, authorities would first need to determine whether the gold deposits had any commercial or considerable value.
He said Mineral and Geoscience Department will conduct further research at the spots and determine if there is any commercial value in them or if they only contain small amounts of gold.
Based on the preliminary report by a task force studying Perak's gold mining potential, the gold deposits could be commercially mined, he added.
Perak was also looking into refining the categorisation of minerals to facilitate the process of imposing royalty taxes on mining activities.
Perak had already increased its tax revenues from mining activities to about RM 30 mil this year through a royalty tax increase to 5% as compared to last year's revenue of less than RM 1mil.
Source: http://www.bullionstreet.com
