Ageson stated that it expects the joint venture to contribute more than 25% or more of its net profit for the year ended June 30, 2021 (GJ2021), and therefore proposes a diversification of its activities to include mineral exploration, mining and mineral resource trade at its next general meeting. Sand mining in Selangor is a multi-million ringgit company. However, an increase in illegal mining sites, which resulted in losses of millions of Ringgit`s revenues each month, had forced the authorities to consolidate the activities of KSSB, a company run by the MB itself. Earlier, Ageson announced another $330.RM million sand supply project, which it will complete in a joint venture with Singaporean company Navis Marinus Private Ltd, as well as another $116.8 million.RM contract for the sale of natural sands to Hong Kong-based Boyijun Resources (HK) Ltd. „In addition, MBI Kedah is expanding and sharing its local expertise and knowledge in the local mining and mining industry in Kedah. , the group assumes that the joint venture project can be implemented and implemented smoothly,” he said. With the approval of the mining licence, the group is expected to begin extracting the oil sands in the first half of 2019. As part of the agreement, MBI Kedah will grant the joint venture company the rights and full power to carry out new silica extraction activities in new concession areas in Bukit Buluh, Mukim Serdang and Bandar Baharu. In the letter, Abdul Rahman Ishak, managing director of KSSB, said his request for mining activities at the two Kuala Selangor sites, with a total area of more than 1,000 hectares, had been rejected.
„KeTSA spends AP to export sand abroad, based on several criteria such as the national interest, taking into account aspects of local consumer needs, nation sovereignty or the importance of trade, provided that operators have previously obtained permission from KeTSA,” he said. Studies conducted by MalaysiaNow also found that the decision to grant the additional 10-year lease to KL Larut was contrary to a 2015 circular from the National Director of Lands and Minerals, which stated that all mining licences should be carried out on public land as part of an open tender. In a separate notification, Ageson stated that AEB had accepted a letter of intent from South Korean company Techpack Solutions Co Ltd in favour of a five-year sand silica supply contract of $79.5 million (RM339.03 million). NAMI Corp. strives to become a diversified global mining company and actively participates in expansion plans by communicating with potential mining companies. It is currently preparing an acquisition with its Malaysian-based company for a possible acquisition. The nearby company owns a granite mine in Kampar district, Perak State, Malaysia, covering an estimated 6.07 hectares. NAMI Corp.
expects to complete the fiscal year in 2019. An industry source told MalaysiaNow that the two lands, which each deeded about 300 and 748 hectares, could collect up to 300,000 tonnes of sand and minerals each month at a market price of more than RM 5 million.