SEEK & SECURE

4

Mining Sites

700

Acre Iron Ore Mining Sites

RM2.2B

Concession Contract

Qew Group Berhad through its subsidiary Qew Technologies (M) Sdn Bhd successfully signed a mining concessions contract covering an area of 600 acres in Bukit Besi, Dungun. These agreements are valued at RM 1.7 billion for 5 + 5 years concessions. It is done according to the current iron ore index price.

Meanwhile, in January 2023, Qew Technologies (M) Sdn Bhd secured another iron ore concession contract with 100 acres of land in Seri Bandi, Kemaman, with a value projection of RM 500 million for the same contract period. The total value of concession contracts for Seri Bandi and Bukit Besi are RM 2.2 billion.

Qew Group Berhad's growth in iron ore mining concessions is driven by rising global demand and stable rising of the index prices projected for 2024-2025. Qew Group Berhad’s collaboration with Terengganu state government shall boost specifically Terengganu socio-economy and the country's socio-economy in general.

Bukit Besi Iron Ore Mini​ng Project

The advancement of iron ore mining activities across the 600-acre expanse at Bukit Besi has been meticulously tracked since the signing of the agreements. Simultaneously, progress is being made across all three sites as they move towards phase 2 of the Environmental Impact Assessment (EIA) application process. This pivotal phase underscores Qew Group Berhad’s unwavering dedication to environmental stewardship and the implementation of responsible mining practices.

With the anticipation of completing the EIA process by the conclusion of the 4th quarter of 2024, Qew Group Berhad is positioned to secure full approval, marking a significant milestone for the progression into the next operational phase.

Iron Ore Mining Project in Seri Bandi, Kemaman

In 2023, Qew Group Berhad’s operational efforts were focused on exploratory activities and excavating iron ore from the ground. These activities have been meticulously staged, with the ore stockpile in temporary storage areas before undergoing crushing and washing to achieve the desired grade. The washing activities commenced in the fourth week of May 2023. The first batch of iron ore production test results was released in the third week of June 2023. This marks a significant milestone in Qew Group Berhad’s commitment to delivering high-quality products to our valued customers while maintaining environmental sustainability.