Drilling services with a total estimated footage of 50,789 metres for the third phase of its drilling programme at the goldmine project in Sokor. The Sokor gold mine is touted to be the largest in Peninsular Malaysia and is CNMC's flagship project. It is considered to be the next most prospective but undeveloped hard rock gold mining area in Malaysia, apart from the Mamut Mine in Sabah and Penjom Mine in Pahang. resource base of 7.46 million ounces of gold at its Indonesian mines CNMC’s listing marks a new and exciting chapter for the company. The IPO proceeds will enable us to focus on executing our expansion and growth strategies to achieve our company’s vision of being one of the pre-eminent gold and mineral producers in the Asia-Pacific region,’ said Chris Lim, chief executive of CNMC.Net proceeds will be used for the expansion of gold extraction facilities by commissioning a heap leach facility and exploration activities to identify new gold mineralisation.
It will also undertake a feasibility study to construct a gold carbon-in-leach plant to increase its ore processing capacity. CNMC invests and co-operates internationally in the non-ferrous metal mineral resources field. Its interest in Zambia is Chambishi copper mine, including the 150,000t copper smelter, leach plant and sulphuric acid plant.
At Chambishi CNMC is working on an US$800 million project to develop the southeastern ore body. The project is expected to take between three and five years and to create 5,000 jobs locally. Development of the ore body is expected to increase mine life to 25 years...NICE!