QEW Group of Companies (QEW Group), through its subsidiary QEW Technologies (M) Sdn Bhd, has successfully secured a mining concession covering 600 acres in Bukit Besi, Dungun. Valued at RM1.7 billion, the concession spans a ten-year period, structured as a five-year term with a possible five-year renewal, and is aligned with the prevailing global iron ore index pricing.
QEW Group’s expansion in iron ore mining is driven by increasing global demand and the steady rise in index prices forecasted for 2025–2027. Its strategic collaboration with the Terengganu State Government is expected to contribute significantly to the socio-economic growth of Terengganu and Malaysia as a whole
Bukit Besi Iron Ore Mining Project
The development of iron ore mining operations across the 600-acre site in Bukit Besi has been closely monitored since the agreement’s inception. Concurrently, all three designated sites are progressing toward Phase 2 of the Environmental Impact Assessment (EIA) process. This critical stage highlights QEW Group’s firm commitment to environmental sustainability and responsible mining practices.
With the EIA process expected to be completed by the end of Q4 2024, QEW Group is well-positioned to obtain full approval, paving the way for the next phase of operational development and reinforcing its role as a responsible and forward-looking industry player.
Decontamination Of Radioactive Waste (REE)
The Malaysian government is strengthening its efforts to ensure the rare earth elements (REE) industry grows responsibly. Through the National Mineral Policy 3 (DMN 3) and the Standard Operating Procedure (SOP) for REE Mining, the government aims to promote safe, transparent, and sustainable practices in the exploration and processing of REE. These efforts also support national energy goals, particularly under the National Energy Transition Roadmap (NETR) and the Low Carbon Mobility Blueprint (LCMB), which aim to cut greenhouse gas emissions and achieve 15% electric vehicle (EV) sales by 2030.
As part of this direction, QEW Group is exploring an initiative to safely treat and manage radioactive waste from REE processing in Malaysia. This step supports Malaysia’s move toward cleaner energy and responsible resource management. Since REEs are key components in EV motors and batteries, managing REE waste safely helps build a stronger and more sustainable clean energy ecosystem.
Key Aims:
- Develop Safe Decontamination Methods – apply proven and practical technologies to reduce radioactive materials in REE waste.
- Build Local Expertise and Facilities – strengthen Malaysia’s skills, technology, and readiness for sustainable REE waste management.
- Support Sustainable Industrial Growth – ensure REE development balances industrial progress with environmental care.
Through these efforts, QEW Group aims to help Malaysia lead in green innovation and responsible industrial development, creating a cleaner and safer future for the nation.
