SINGAPORE (May 14): CNMC Goldmine Holdings, which operates in Kelantan, says local authorities have raised the royalty rates miners in the state have to pay for their production.

The company says it received a circular from the Kelantan State Land and Mines Office stating that with effect from Jan 1, it is to pay a 15% royalty rate on gold, up from 10% now, and 12% to be paid on silver, also up from 10%.

The rate on other minerals lead and zinc (click here for the full story on theedgesingapore.com)