SINGAPORE (Mar 25): UOB KayHian says upcoming market entrant Fortress Minerals (FMIL SP) is well positioned to ride on increasing demand from Chinese steel mills.
Fortress Minerals is a 37%-owned associate of Malaysia-listed Selangor Dredging Bhd, an investment firm with property development businesses in Malaysia and Singapore.
The company produces high-grade iron ore concentrate mined from its Bukit Besi mine at Terrangganu, Malaysia, with an estimated output capacity of 40,000 wet metric tonnes per month.
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