CNMC Goldmine to boost capacity of main gold production plant by 60%

The expansion will be funded using internal resources and is expected to be completed by the first half of next year.

CNMC had over US$14.7 million in cash and no bank loans as at June 30.

The company is also currently building another underground gold mining facility at Sokor which is expected to be completed by early next year. When completed, this mining facility will enable it to extract more higher-grade gold ores at greater depth for processing at the CIL plant. 

Shares in CNMC closed 0.5 cents higher or 2.1% up on Aug 19 at 24 cents.

See also: DBS signs MOU with Korean Ocean Business Corporation to help Korea’s maritime firms expand across Asia