JAG Bhd emerged as one of the most actively traded counters on Bursa Malaysia in the morning session today after signing a deal to explore bauxite mining in Langkawi.
At 11.05am, the total waste management company saw its shares improve half-a-sen to 5.5 sen, with 73.31 million shares being transacted.
In a filing with the local exchange yesterday, JAG said it had inked a Memorandum of Understanding (MoU) with Empire Mining Sdn Bhd to jointly explore bauxite mining opportunities in Pulau Langkawi, Kedah.
The company said the MoU was to set out intentions with the possible joint venture between JAG or its nominated subsidiary and Empire Mining, to extract, process, and produce bauxite there.
It added that the parties had agreed to negotiate exclusively with each other for three months from the date of the MoU, and a further three months or more if mutually agreed in writing.
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