Lion Group’s mining unit invests RM600 million

by | Dec 24, 2022 | Business, LOCAL | 0 comments

In a statement, Lion Group’s unit, Lion Mining Sdn Bhd  (LMSB), stated that they are going into the mining of both metallic and non-metallic minerals and have decided to inject an investment of RM600 million for this purpose.

LMSB is to undertake exploration activities for alluvial and primary minerals such as tin, iron ore, gold, coal, silica, sand and other commodities locally and in Indonesia and Cambodia with the possibility of venturing into other countries.

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

LMSB’s RM600 million investment is for building tin and silica plants and to purchase mining equipment such as excavators, dump trucks, wheel loaders, compactors, motor graders, bulldozers and back pushers.

The company believes it will help to revive and revitalize the local mining industry and towards this end it has a pool of technical expertise and mining experience to explore and develop commercial mining projects.

LMSB added that its new exploration would be a platform for the training of mining professionals and that there were about 1,500 employment opportunities for consultants, technical experts, technicians and skilled workers.