The Malaysia-based company has announced the commencement of production at its recently acquired Cermat Aman (CASB) mine, which is estimated to have a production capacity of 20,000 wet metric tonnes (WMT) per month. CASB and Star Destiny are subsidiaries of Fortress Mengapur, acquired by the company on April 7, 2021.
Against the backdrop of a challenging business environment coupled with volatile iron prices, iron ore concentrate producer and exporter Fortress Minerals is focusing on ramping its production capacity as well as controlling its unit costs.
“While the slump in iron ore prices does affect us, it is beyond our control. We will instead focus on things that we can control, which includes optimising unit costs and increasing our production capacity,” Catalist-listed Fortress’ executive director and CEO Ivan Chee tells The Edge Singapore.
