CNMC Q1 profit down 99% on lower ore grades

Singapore

CNMC Goldmine Holdings, which in April warned of a substantially smaller first-quarter bottom line, on Monday posted a 99 per cent plunge in net profit for the three months ended March 31. The Malaysian gold miner was once again hit by lower ore grades, which affected the production and sales volume of gold.

The group said that it would build a carbon-in-leach plant to improve gold recovery.