Minetech gets RM230mil contract extension


Minetech Resources Bhd executive chairman Abang Abdillah Izzarim Abang Abdul Rahman Zohari. — AZLINA ABDULLAH/The Star

PETALING JAYA: Minetech Resources Bhd has entered into an agreement with Able Return Sdn Bhd and Damar Consolidated Exploration Sdn Bhd to renew its Selinsing Gold Mine Project contract for a further 36 months, valued at RM230mil.

In a filing with Bursa Malaysia, Minetech said the project consists of waste removal, ore deliveries and associated works for open pit mining.

The company said the contract is from Jan 1, 2024 until Dec 31, 2026.

“The contract is expected to contribute positively to the revenue, earnings and net assets of the company and its subsidiaries for the financial year ending March 31, 2024 onwards to March 31, 2027,” it said.

In a separate statement, executive chairman Abang Abdillah Izzarim said the contract not only reaffirmed its leading position in the industry but also aligned with its strategic vision for growth and excellence.

“We are committed to leveraging our expertise and capabilities to further contribute to the success of the Selinsing Gold Mine Project, ensuring value creation for all stakeholders involved."

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