Deep Yellow gets licence for Namib iron project
PERTH (miningweekly.com) - Namibia-focused Deep Yellow has been awarded a mining licence for its Shiyela iron-ore project, by the Ministry of Mines and Energy.
The mining licence covers some 54.02 km2 of the project area and allowed Deep Yellow to hunt for base, rare and precious metals, as well as industrial minerals.
“This is a great result for the company as well as for Namibia. We have gone from discovery to a mining licence in little over four years,” said Deep Yellow MD Greg Cochran, adding that the recent positive outcome of the resource update and scoping study would now quickly progress the search for a development partner.
The Shiyela project currently has a Joint Ore Reserves Committee-compliant resource of 115.1-million tons, grading 19.5% iron.
The scoping study found that three types of ore could be processed and produced at the Shiyela operation, including magnetite, magnetite with hematite tails, and hematite with minor magnetite tails.
The study also found that a capital investment of some $366.8-million could support a two-million-ton-a-year operation.
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