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Hannans launches PFS on Swedish project

13th February 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) - A scoping study into ASX-listed Hannans Reward’s Rakkurijoki iron deposit, in Sweden, has confirmed that the project could supply iron-ore product over a 12-year life-of-mine.

The scoping study found that a capital injection of some $629-million would be required to fund the project. The project hosts a Joint Ore Reserves Committee-compliant resource of some 74.5-million tons, grading 39.7% iron, but could be expanded through additional deposits.

The scoping study results have now prompted Hannans to launch a prefeasibility study (PFS), which would include the Rakkurijarvi iron deposit.

“The results from the scoping study are encouraging and we’ll complete a far greater level of analysis during the prefeasibility,” said MD Damian Hicks on Wednesday.

The PFS would include detailed planning to fully understand the logistics chain, the processing, market and the social licences needed to operate in the region.

“In terms of funding the prefeasibility, our plan is to joint venture with a company that has a long history in developing iron-ore mines. A partner that has an excellent track record in delivering bulk commodity projects within budget, and on time.”

Edited by Creamer Media Reporter

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