Kemaman (Dec 5): HIAP TECK VENTURE BHD []'s 55% owned Eastern Steel Sdn Bhd has been granted a mining licence by the Terengganu state government to mine iron ore on an area of 600 acres near Bukit Besi.
Speaking after the symbolic ground breaking ceremony on Monday, the state's chief minister Datuk Seri Ahmad Said said that the mining concession would allow Eastern Steel to mine the area, which has estimate reserve of 40 to 50 million ton of iron ore, until the end of its mining life.
According to Ahmad Said, Eastern Steel was the second company that had been awarded the mining license, out of the four that were made available, so far.
“This is one of the incentives that the state government gives to encourage Eastern Steel to invest in steel milling business here, on top of building the infrastructure to improve accessibility and logistic,” he said.
Perwaja Holdings Bhd, which also has a steel operation in the state, was the first company to be awarded the mining right.
Speaking after the symbolic ground breaking ceremony on Monday, the state's chief minister Datuk Seri Ahmad Said said that the mining concession would allow Eastern Steel to mine the area, which has estimate reserve of 40 to 50 million ton of iron ore, until the end of its mining life.
According to Ahmad Said, Eastern Steel was the second company that had been awarded the mining license, out of the four that were made available, so far.
“This is one of the incentives that the state government gives to encourage Eastern Steel to invest in steel milling business here, on top of building the infrastructure to improve accessibility and logistic,” he said.
Perwaja Holdings Bhd, which also has a steel operation in the state, was the first company to be awarded the mining right.
