KUALA LUMPUR: Minetech Resources Bhd's unit has renewed its waste removal, ore delivery, and associated works for the Selinsing gold mine project, worth RM230 million.
Minetech Construction Sdn Bhd (MCSB), has successfully extended the contract with Able Return Sdn. Bhd. and Damar Consolidated Exploration Sdn. Bhd.
The renewal extends the partnership for an additional 36 months, starting from Jan 1, 2024 to Dec 31, 2026.
Minetech is a civil engineering specialist, bituminous products manufacturer as well as an emerging player in the solar energy space.
Nestled in Malaysia's Central Gold Belt, the Selinsing gold mine spans 150.3km², encompassing the Selinsing, Buffalo Reef, Felda Land, Peranggih, and Famehub properties, located 158km north of Kuala Lumpur.
The mine boasts a gold processing plant and essential infrastructure, readily accessible from all properties.
Newly minted chairman Abang Abdillah Izzarim Abang Abdul Rahman Zohari said the contract renewal reaffirms its leading position in the industry but also aligns with its strategic vision for growth and excellence.
The son of the Sarawak Premier, Abang Abdillah Izzarim was appointed executive chairman of Minetech on Jan 3, 2024 after taking a 15.58 per cent stake in Minetech.
The Selinsing gold mine's operations and the extended contract align with Minetech's commitment to Environmental, Social, and Governance (ESG) principles.
This alignment underscores the company's dedication to sustainable mining practices, community engagement, and governance standards that not only ensure compliance but also aim to positively impact the surrounding environment.
Mintech's share price closed unchanged at 14.5 sen, giving it a market capitalisation of RM258.7 million.