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ios developer account:Minetech secures RM70mil mining job contract extension

admin2021-03-1280

KUALA LUMPUR (Bernama) -- Minetech Resources Bhd's wholly-owned subsidiary, Minetech Construction Sdn Bhd, today entered into an agreement with Able Return Sdn Bhd and Damar Consolidated Exploration Sdn Bhd in relation to the contract renewal for waste removal, ore delivery, and associated works for an open pit mining estimated to be worth RM70mil.In a filing to Bursa Malaysia, Minetech Resources said the contract renewal was for the Selinsing gold mine project in Pahang, and it will be for a period of 36 months from July 1, 2020 to June 30, 2023. "The contract is expected to contribute positively to the revenue, earnings and net assets of Minetech Resources and its subsidiaries for the financial year ending March 31, 2021. "The Board of Directors, after considering amongst others, the potential financial benefits arising from the contract, is of the opinion that the renewal of the contract is in the best interest of Minetech Group," it said.
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