Gold miner Anchor Resources eyes profit by end of year

Singapore

MALAYSIAN gold mining group Anchor Resources is hopeful to turn a profit by the end of 2016, despite posting full-year net losses for the past nine years.

This was revealed on Wednesday by Anchor Resources founder and managing director Lim Chiau Woei who spoke about the company's plans to further explore its two existing mines in Malaysia, as well as develop the infrastructure there, while almost doubling its production capacity to 600,000 tonnes of gold per annum by the end of 2017.