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Sale of Interest in Malaysian Bukit Ibam Project Grange Resources Announced That it has Entered Into a Sale and Purchase Agreement for the Sale of Its' 51% Share of the Bukit Ibam Magnetite Mine, Located in Malaysia, to Esperance Mining Sdn. Bhd. for a Cash Payment of MYR 10 Million(~A) .

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Perwaja Holdings Bhd is expected to secure a sizeable iron ore mining concession from the Terengganu government "anytime soon", according to industry sources. To enable economies of scale, sources said, Perwaja's unit Perwaja Steel Sdn Bhd should ideally be given about 500ha in Bukit Besi to mine iron ore with a mining lease running for at least 10 years, which later will be subject to renewal.

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Ibam Mining Sdn. Bhd. operates in the mining of ores valued chiefly for iron content. The company produces minerals and metal based products. Ibam was incorporated in 1996 and based in Kuantan, Pahang, Malaysia.

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