Sarawak Discovers 3.3 Million Ounces of Gold, Becoming Asia’s 13th Largest Gold Region.
Sarawak has taken a significant leap forward in the mining industry with the discovery of 3.3 million ounces of gold reserves in the Bau district.
The discovery, announced by Besra Gold Inc. and its subsidiary North Borneo Gold San on the Australian Securities Exchange (ASX) in 2021, is valued at an estimated RM24.3 billion. This development has elevated Sarawak to the rank of Asia’s 13th largest gold-producing region.
Certified Reserves and International Standards
According to the latest report “Post-Pandemic Development Strategy 2030: 2023 Highlights”, the estimated reserves have been validated by international standards, including the Joint Ore Reserves Committee (JORC) and the NI43-101 standards used in Australia and Canada.
Expected to Attract Over RM1.3 Billion in Investments
The Sarawak government anticipates that the upstream activities of the gold mining project will draw RM1.38 billion in investments and create 500 to 1,000 job opportunities. Additionally, a complete industry chain will be established, spanning from ore extraction to a gold trading platform.
The report highlights that Sarawak is actively advancing the comprehensive development of its mineral resources. Current estimates place the total value of identified mineral resources at RM1.25 trillion, covering 32% of the state’s land area, equivalent to 39,824 square kilometers (4 million hectares).
The government has also allocated RM300 million for geological exploration of an additional 31,474 square kilometers of undeveloped land, aiming to enhance the understanding and management of Sarawak’s mineral resources.
(News & Images: Sinchew Sarawak, Getty Images, Pha wat Khom mai)
*Images for illustration purposes.
