Minetech gets RM230mil job extension

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 yesterday, Minetech said the project consisted 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,” the firm said.