The wholly-owned subsidiary of ENCORP, Encorp Construction & Engineering (ECESB) has entered into a Distribution Agreement (Agreement) with LMC Mining (LMC) to undertake the distribution of silica on a 97.7-acre land in Kinta, Perak and 100-acre land in Kuantan, Pahang.
Under the Agreement, LMC has the rights to mine the silica at two contract areas and ENCORP is granted with the rights to distribute all silica produced from the contract areas worth over RM50 million.
The mining operation is expected to commence in the first quarter of 2023. Both locations shall operate for a period of 24 months and the mining rehabilitation work will be implemented simultaneously within the operational period.
The Distribution Agreement was signed between Encik Hazurin bin Harun, the Group Chief Executive Officer of ENCORP and Kenny Lee Chan Oon, the Executive Director of LMC. Also present to witness the signing of the Agreement this morning at Encorp Berhad were Tuan Haji Sr. Mohd Ali bin Abd Karim, the Chairman of ENCORP and YBhg Dato’ Edmond Lee, the Managing Director of LMC.
“ENCORP’s entry into the Agreement, serves as a platform for ENCORP to venture into the mining industry specifically silica mining. ENCORP’s venture into mining is part of our efforts to diversify its income from its property development base and tap into an industry with a huge future potential,” Group Chief Executive Officer of ENCORP, Encik Hazurin Bin Harun said.
“We are delighted to be working with LMC who has the technical capabilities and experience in this industry and will help ENCORP accelerate the pace at which we conduct our operation, maximise overall efficiencies and achieve ultimate profitability,” he remarked.
