NICE EXPECTS NEWLY COMMISSIONED SOKOR NORTH HEAP LEACH PLANT TO BOOST REVENUE BY 3Q 2025

From Engku Shariful Azni Tengku Ab Latif

TANAH MERAH, Nov 15 (Bernama) -- Niche Capital Emas Holdings Bhd (Nice) has successfully commissioned its heap leach plant here at Sokor North Gold Mine.

It said the plant is expected to contribute to its revenue by the third quarter of the financial year 2025 (3Q 2025). 

Nice chief operating officer Tan Ken Sim said the company invested approximately RM50 million in capital expenditures for the intensive three-year journey in mineral exploration before the plant's commissioning.

He said the plant is estimated to process around 30,000 tonnes to 40,000 tonnes of soil containing the mineral and is expected to extract six to 12 kilogrammes of gold at the optimum level in a month.

“Upon successful commissioning and optimising it, we will be moving on to the second plant, which is expected to commence around the middle of next year, but that will depend on a few other factors,” he told a press conference here.

Tan also said the group would continue to conduct scout holes, which involve drilling in certain places to find potential areas that contain gold.

“Once we get the gold, we will zoom in that area to have a tighter spacing. Then, we can determine the resource,” he explained.

He, however, did not disclose the number of drills made so far.

The newly commissioned plant is part of its mining concession area, which totals approximately 1,831.04 hectares in Hutan Simpan Kekal Sokor Taku, Sokor.

According to its statement today, the area comprises Sokor North (547.42 hectares), Sokor Midlands (373.32 hectares) and Sokor South (910.30 hectares).

“The achievement marks a pivotal moment in Nice’s journey in Malaysia’s mineral exploration and precious metals mining sector,” it said. 

Tan said the feat reflects the team’s dedication to navigating the complex journey of mine development and its commitment to growth and innovation.

“Given the global demand for minerals, this maiden venture provides Nice with a valuable opportunity to explore additional prospects in the mining sector. 

“We believe this milestone would support our ongoing efforts for growth and expansion as we work towards establishing a strong presence in the gold and minerals industry in the region,” he said.

On the outlook, Tan said the company planned to optimise the heap leaching plant at the Sokor North Gold Mine, explore more gold deposit sites and expand operations to increase their output.

Listed on the Main Market of Bursa Malaysia, Nice has six subsidiaries in Malaysia, one in Indonesia, and one in Hong Kong (currently being deregistered), focusing on mining and minerals, construction and services, and trading of precious metals and stones.

-- BERNAMA