Its job scope for the contract involves supplying concrete cement and metal for the upgrading of the Train Cargo Terminal at Padang Besar, Perlis, Dolphin said in a filing with Bursa Malaysia.
KUALA LUMPUR: Selangor Dredging Bhd
's 37% associated company Fortress Mineral Bhd has obtained approval from Singapore Exchange Securities to list on the Catalist Board.
In a statement to the stock exchange, the group said the listing is expected to take place on March 27, 2019.
Fortress Minerals is a 37%-owned associated company of SDB Mining Sdn Bhd, which is in turn a wholly owned subsidiary of Selangor Dredging.
It is principally involved in the business of exploration, mining, production and sale of iron ore concentrate.
The iron ore concentrate is sold primarily to steel mills and trading companies in China and Malaysia.
"It produces iron ore concentrate with TFe grade of 65% and above from iron ore mined from the East, Valley and West Deposits of its Bukit Besi Mine, situated in Terengganu, Malaysia, through its subsidiary, Fortress Mining Sdn. Bhd," said the group.
The mining right for Bukit Besi Mine covers a total area of about 526.2 hectares, and will expire in early 2033.
According to the group, proceeds from the initial public offering will be used to further develop the Bukit Besi Mine, including continuing and future exploration and geology work, as well as expansion of iron ore processing capacities.
In addition, the proceeds may also go towards acquisitions, joint ventures and/or the development of new mines, whether in Malaysia or elsewhere, it said.
