Malaco Mining Sdn. Bhd. (“Malaco”) was established in 2004.
Malaco’s initial business strategy includes re-development of:- Gold Mine Project in Lubuk Mandi, Rusila in the State of Terengganu, Malaysia; and- Iron and copper mining and exploration activities of Mengapur Project in the State of Pahang, Malaysia.
The initial subsidiaries of Malaco includes Bidalan Mayang Sdn. Bhd. (“BMSB”) and Cermat Aman Sdn. Bhd. (“CASB”).
BMSB holds the mining right for the gold mine which provides the right to:
The gold mining operation was ceased in March 2012 as the mining contract expired.
The other subsidiary Cermat Aman Sdn. Bhd. (“CASB”) was principally involved in iron and copper mining and exploration activities of Mengapur Project in the State of Pahang, Malaysia since 2006.
In 2012, Malaco sold 100% equity interest in CASB to Monument Mengapur Sdn. Bhd. excluding the raw iron ore in the top soil which remains the rights of Malaco.
In 2013, Malaco acquired 100% equity interest of Mount Cuthbert Copper Mine in Mt Isa, Australia and change the name of the company to Malaco Leichhardt Pty. Ltd. (“Malaco Leichhardt”).