Jupiter ups Mt Ida resource, project remains on hold
PERTH (miningweekly.com) - ASX-listed Jupiter Mines has increased its Mount Ida magnetite resource by some 615-million tons, at 28.86% iron, giving the project a total resource of some 1.85-billion tons at 29.48% iron.
The additional resources were identified at the Northern and Southern zones of the project area, in Western Australia.
Jupiter said on Tuesday that the defined mineralisation in the South zone extended for some 3 km along strike and was over 1 km wide, while the mineralisation in the North zone had been identified over a strike of 1 km and a width of 600 m.
In November last year, Jupiter halted further expenditure on its Mount Ida project, after a feasibility study showed that the project would cost more than initially estimated.
While the scoping study had identified a ten-million-ton-a-year operation, with a capital cost of some $1.5-billion, the feasibility study indicated higher capital and operating costs for the project. Taken together with the recent depressed iron-ore prices and the strong exchange rate environment, the Jupiter board concluded that it was in the best interest of the company to freeze expenditure.
However, Jupiter said on Tuesday that the company’s focus was now on evaluating the feasibility study work done to date, in order to recommend project capital expenditure and operating expenditure optimisation strategies to make the project financially attractive for development.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...
VISIT SHOWROOM
AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
