Gold miner CNMC agrees to buy Pulai Mining stake

Singapore

GOLD miner CNMC Goldmine Holdings has agreed to subscribe to 51 per cent of Pulai Mining for RM13.8 million (S$4.42 million), lifting its mining concession area in the Malaysian state of Kelantan by nearly five times.

The group plans to start geological exploration work on the new site immediately after Chinese New Year, said its CEO Chris Lim.

CNMC signed the subscription agreement with the Kelantan State Economic Development Corporation (KSEDC) - the government agency responsible for the overall economic development of the state - and other Pulai shareholders on Fr…