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Minetech bags RM28.8m contract renewal

23 Nov 2018 / 18:30 H.

    PETALING JAYA: Minetech Resources Bhd’s (MRB) wholly owned subsidiary Minetech Construction Sdn Bhd has bagged a RM28.8 million contract renewal for waste removal, ore delivery and associated works for open pit mining in respect of the Selinsing Gold Mine Project for a further period of two years.

    Minetech Construction today entered into an agreement with Able Return Sdn Bhd and Damar Consolidated Exploration Sdn Bhd in connection with the renewal of contract, which commenced from July 1, 2018 to June 30, 2020.

    The contract is expected to contribute positively to the future earnings of the group.

    The risk factors affecting the contract include, but not limited to, execution risks such as availability of skilled manpower and general business risks.

    “MRB Group management has the experience and expertise to undertake such a project and the board believes that the group is able to mitigate any of the aforesaid risk factors,“ the group said.

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