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Kinsteel secures rights to mine iron ore in Pahang
by Cals Tue 23 Jul 2013, 20:20
Kinsteel secures rights to mine iron ore in Pahang
Business & Markets 2013
Written by theedgemalaysia.com
Tuesday, 23 July 2013 19:32
KUALA LUMPUR (July 23): KINSTEEL BHD [] announced it has secured the exclusive right to mine iron ore and other types of minerals at Kuala Lipis, Pahang.
The mining area covers approximately 500 acres, according to a statement issued by the company.
The mining agreement was signed between the Ruler of Pahang, Sultan Haji Ahmad Shah Al-Musta'in Billah Ibni Al-Marhum Sultan Abu Bakar Ri'ayatuddin Al-Mu'adzam Shah, and Kinsteel’s chief executive officer Datuk Henry Pheng Chin Guan.
The Sultan of Pahang was quoted as saying, “The mining operation is expected to bring economic spill over benefiting the State as well as the Rakyat.”
Pheng said, “The award of the mining rights is timely and in line with the Kinsteel group’s business. We expect the mining operation to enhance future earnings.”
The mining operation is expected to commence in 3-6 months.
Business & Markets 2013
Written by theedgemalaysia.com
Tuesday, 23 July 2013 19:32
KUALA LUMPUR (July 23): KINSTEEL BHD [] announced it has secured the exclusive right to mine iron ore and other types of minerals at Kuala Lipis, Pahang.
The mining area covers approximately 500 acres, according to a statement issued by the company.
The mining agreement was signed between the Ruler of Pahang, Sultan Haji Ahmad Shah Al-Musta'in Billah Ibni Al-Marhum Sultan Abu Bakar Ri'ayatuddin Al-Mu'adzam Shah, and Kinsteel’s chief executive officer Datuk Henry Pheng Chin Guan.
The Sultan of Pahang was quoted as saying, “The mining operation is expected to bring economic spill over benefiting the State as well as the Rakyat.”
Pheng said, “The award of the mining rights is timely and in line with the Kinsteel group’s business. We expect the mining operation to enhance future earnings.”
The mining operation is expected to commence in 3-6 months.
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