Monument Mining has commenced mining preparation on Felda Block 7 at the Selinsing Gold Project in Pahang State, Malaysia. This follows acknowledgement of the approval by state authorities to grant Proprietary Mining Leases (PML) that have now been issued to underlying land owners, including 15 hectares of private land.
The Federal Palm Oil Plantation Land, or ‘Felda land’, is adjacent to Monument’s Selinsing and Buffalo Reef deposits, gazetted as a group settlement area covering 1586 hectares.
The company acquired exclusive irrevocable exploration licences over 362 hectares of Felda land, including Block 7, from individual settlers in 2010, and obtained consent from Federal Land Development Authority (FELDA) in 2013.
As part of these agreements with settlers, certain portions of Felda land shall be converted to mining leases upon exploration success at the company’s discretion, subject to regulatory approval. The exclusive mining permits will be automatically assigned for mining to the company in event of approval of the mining leases obtained by those settlers.
Approval of the PML is a critical step to maintain sustainability of production at the Selinsing project. It allows Monument to continue to mine and feed oxide ore to the Selinsing mill, and enables the Buffalo Reef open pit to be developed at any time for further sulphide production.
Monument says the administrative process has now been commenced for land re-registration to convert Felda Land to privately freehold land and issuance of a PML. In the meantime, mining preparation is in place, ready to clear the overburden for mining at Block 7.
The company says that approval of the PML has been well received by land owners and is supported by the local community. It will further boost the local economy and provide sustainable employment within the local society.
“This process has been assisted greatly by the Pahang State Government which reflects the significant support that the government has given the company in its endeavour to maintain a viable gold industry in Malaysia in the longer term, specifically in Pahang State, for the benefit of all stakeholders.”