1. What are Fortress Minerals’ competitive strengths in the iron ore mining industry? What is its strategy to manage competition with other players in Malaysia and China?
Fortress Minerals Group is a leading iron ore concentrate producer in Malaysia. The group, led by CEO Ivan Chee, produces magnetite iron ore concentrate mined from the East, Valley and West deposits in the Bukit Besi mine in Terengganu which is primarily sold to steel mills and trading companies in China and Malaysia.
Fortress focuses on producing highgrade magnetite concentrate commanding premium prices, which has seen increasing demand from steel mills.