Kedah seeks mining joint ventures

GURUN: The Kedah government's wholly-owned subsidiary, Permodalan Kedah Bhd (PKB), is actively seeking opportunities for mining joint ventures with private companies.

Menteri Besar Datuk Seri Azizan Abdul Razak said that the latest venture was an iron-ore mine operated by PKB and Nacstone Mining Worlwide (M) Sdn Bhd on a 26.091ha site near Gunung Jerai, which is expected to contribute an annual revenue of RM10mil to the state.

Speaking to reporters after a working visit to the site yesterday, he said the state government received a 5% royalty on the value of iron ore exported, excluding PKB's profits from the joint venture.

The site contained over one million tonnes of iron ore while an adjoining 42ha site was awaiting mining approval from the minerals and geoscience department, he said.

In the three months of operations, the mine had exported three shiploads of iron ore to China, Azizan said.

Several other sites containing minerals including quartz had also been identified in Bukit Kachi, Sintok, he said, adding that there had been investor interest even as studies were under way. - Bernama