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Date : 19 November 2019

OTHERS ISSUANCE OF NEW MINING LEASES UNDER LOT NO. 6173 (ML095), LOT NO. 7430 (ML096), LOT NO. 6175 (ML097), LOT NO. 6174 (ML098), LOT NO. 2206 (ML099), LOT NO. 55320 (ML100) AND LOT NO. 55310 (ML101) LOCATED AT KLIAN INTAN, MUKIM PENGKALAN HULU, DAERAH HULU PERAK, PERAK DARUL RIDZUAN FOR TOTAL AREA MEASURING APPROXIMATELY 701.026 HECTARES (COLLECTIVELY REFERRED TO AS NEW MINING LEASES)

MALAYSIA SMELTING CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description
ISSUANCE OF NEW MINING LEASES UNDER LOT NO. 6173 (ML095), LOT NO. 7430 (ML096), LOT NO. 6175 (ML097), LOT NO. 6174 (ML098), LOT NO. 2206 (ML099), LOT NO. 55320 (ML100) AND LOT NO. 55310 (ML101) LOCATED AT KLIAN INTAN, MUKIM PENGKALAN HULU, DAERAH HULU PERAK, PERAK DARUL RIDZUAN FOR TOTAL AREA MEASURING APPROXIMATELY 701.026 HECTARES (COLLECTIVELY REFERRED TO AS  NEW MINING LEASES)

The Board of Directors of Malaysia Smelting Corporation Berhad ("MSC") is pleased to announce that in line with the provisions under the State’s Mineral Enactment (Perak) 2003 (“Enakmen Mineral (Perak) 2003”), the State Government of Perak has approved the issuance of New Mining Leases to the Group’s wholly owned subsidiary, Rahman Hydraulic Tin Sdn Bhd (“RHT”). The New Mining Leases bearing new ML numbers now have a common end period which enables easier production and rehabilitation planning, and these leases replace the old leases which are now cancelled.

These New Mining Leases are also for a longer period up to 11 November 2034 and will enable RHT to further increase its mining production levels over a longer mine life. We can expect an increase in future earnings of RHT and the Group. Apart from contributing additional revenue to the Perak State, the longer mine life is also expected to benefit the community and all other stakeholders under the principles and objectives of sustainable development.

This announcement is dated 19 November 2019.






Announcement Info

Company Name MALAYSIA SMELTING CORPORATION BERHAD
Stock Name MSC
Date Announced 19 Nov 2019
Category General Announcement for PLC
Reference Number GA1-19112019-00002


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