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CNMC Goldmine will begin the commercial production of base metals with the official opening of its flotation plant on Sept 11.
The opening was officiated by YAB Ustaz Dato’ Bentara Kanan Haji Ahmad Bin Yakob, the Chief Minister of Malaysia’s Kelantan state.
The plant, which was built at a cost of RM20 million ($6.2 million), will enable the group to produce lead and zinc concentrate for sale, adding to the group’s gold mining portfolio. It had already begun the trial production of lead and zinc in June, a month after its construction was completed. The plant is designed to process some 550 tonnes of base-metal ore a day at full capacity.
The new plant is located at the group’s flagship Sokor gold mine in Kelantan.
According to independent mining advisory firm Datamine Australia, Sokor had an estimated 135,290 tonnes of unmined lead and 143,510 tonnes of unmined zinc as at Dec 31, 2021. The estimates were nearly triple the estimates of 46,300 tonnes and 48,550 tonnes of unmined lead and zinc, respectively, reported in the year before.
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In addition, Sokor had about 5.73 million ounces of unmined silver as at Dec 31, 2021, 70% higher than the 3.37 million ounces of unmined silver the year before.
“The official opening of this flotation plant marks a new chapter of growth for us. Having been producing and selling gold for more than 10 years, we can now add lead and zinc concentrate to our portfolio. This is expected to give us additional streams of income even as we continue to expand our gold operations,” says Chris Lim, CEO of CNMC Goldmine.
As at 11.01am, shares in CNMC Goldmine are trading flat at 19.5 cents.
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