Public Gold opens new international-standard refinery in Penang

Public Gold Group has officially launched Malaysia’s first international-standard refinery centre in the Batu Kawan Industrial Park, Penang. The RM30 million facility is designed to refine up to 10 tonnes of gold annually, with potential future capacity to expand to 50 tonnes to meet market demand.

The refinery adheres to Malaysia’s Gold Standard (MyGS) and the London Bullion Market Association’s Good Delivery Rules. By refining scrap gold locally, the company aims to reduce costs associated with transportation, insurance, and overseas refining services.

Penang Chief Minister Chow Kon Yeow noted that the facility is expected to generate approximately 1,000 direct jobs and support local logistics, engineering, and maintenance sectors. Entrepreneur and Cooperatives Development Minister Steven Sim Chee Keong suggested that the state could further develop a complete gold ecosystem by establishing a gold bazaar and storage facilities, leveraging the fact that Penang already accounts for roughly 70% of Malaysia’s gold jewellery manufacturing.