Malaysia-based Fortress Minerals debuts on Catalist board at $0.22

It produces iron ore concentrate sold to firms in China and Malaysia.

Singapore Exchange (SGX) welcomed Fortress Minerals Limited to its Catalist under the stock code "OAJ". Fortress Minerals Limited opened at $0.22.

According to an announcement, Fortress Minerals Limited is a Malaysia-based high grade iron ore concentrate producer. Its principal business activities include exploration, mining, production and sale of iron ore concentrate.

Fortress Minerals Limited produces magnetite iron ore concentrate with TFe grade of 65.0% and above, mined from the East, Valley and West Deposits in the Bukit Besi Mine in Terengganu, Malaysia. The iron ore concentrate produced by the Group is primarily sold to steel mills and trading companies in China and Malaysia.

With a market capitalisation of about $115m, the listing of Fortress Minerals Limited brings the total number of companies listed on Catalist to 218, with a combined market capitalisation of about $10b.