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casino online vaobo88(www.84vng.com):Lion Group invests RM600mil in mining sector

casino online vaobo88(www.84vng.com):Lion Group invests RM600mil in mining sector

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Lion MIning said it will undertake exploration activities for both alluvial and primary minerals such as tin, iron ore, gold, coal, silica sand and other commodities in Malaysia, Indonesia and Cambodia.

PETALING JAYA: Lion Group’s unit, Lion Mining Sdn Bhd (LMSB), is venturing into mining of both metallic and non-metallic minerals, following an investment of RM600mil in land and capital expenditure.

In a statement, LMSB said it will undertake exploration activities for both alluvial and primary minerals such as tin, iron ore, gold, coal, silica sand and other commodities in Malaysia, Indonesia and Cambodia.

LMSB, which currently has a silica processing plant that produces high-quality silica sand for local consumption exports, said that it plans to develop its land of 774 ha for mining purposes in Kuala Langat, Selangor.

“LMSB has plans to develop the land into a premier sand, silica sand and tin-mining area,” it said in the statement.

The RM600mil investment comprises tin and silica plants, as well as mining equipment.

These are namely excavators, dump trucks, wheel loaders, compactors, motor grader, bulldozers and back pushers in its mining project to produce tin, sand, amang and silica sand.

LMSB added that it had a pool of technical expertise and mining experience to explore and develop commercial mining projects.

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The company believes that its mining activities and silica sand exports will help to revive and revitalise the local mining industry.

Among the benefits to the state and country that was noted are a high royalty collection of RM30mil from 10 million tonnes of exports of silica sand per year for the state government.

Meanwhile, LMSB said there will be about 1,500 employment opportunities for consultants, technical experts, technicians and skilled workers.

LMSB also believes that its new exploration would be a platform for the training of mining professionals.

Apart from bringing in foreign-exchange earnings, the group believes its latest investment could attract investments from both foreign and local associated industries including the glass industry, solar panel manufacturers and other supporting industries.

“Post-rehabilitation work on the mining land provides land development opportunities for mixed development projects comprising housing, commercial and industrial properties, with recurring income in the form of quit rent, property assessment taxes etc to the state,” it added.

To recap, in 2019, the company had received four proprietary mining licence or PML approvals from the Selangor state government for parcels of lands totalling 416 ha in Kuala Langat.

The operating mining scheme for LMSB has been approved by the Department of Minerals and Geosciences, Selangor from the year 2020 till now.With its recent exploration, the company believes it can achieve its aim to be one of the biggest mine operators in Malaysia.

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