The renewed mining lease came into immediate effect and will continue to July 11, 2033, superseding the previous mining lease granted in 2014. There are no other changes to the terms and conditions of the new mining lease.
The renewed mining lease will allow the company to continue dedicating its efforts on development of the Chaah Mine, says managing director Pek Kok Sam in an SGX filing on July 19.
He adds that Southern Alliance Mining is grateful to the mining leaseholder, DYMM Sultan Ibrahim Sultan Iskandar of Johor and the State Government of Johor, Malaysia for granting the extension for the mining lease.
Shares in Southern Alliance closed flat at 69 cents on July 19.
