https://www.miningweekly.com

Nowa Nowa proves profitable for Eastern Resources

24th January 2022

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – A feasibility study into the Nowa Nowa iron project, in Victoria, has estimated a capital cost of A$15.7-million to support the production of one-million tonnes a year of magnetite direct shipping ore.

ASX-listed Eastern Resources on Monday said that the study estimated a life-of-mine of six years, underpinned by a Joint Ore Reserves Committee-compliant resource of 4.65-million tonnes, at 51.75% iron.

The study estimated a pre-tax net present value of A$61.94-million and an internal rate of return of 11.8%.

Eastern Resources is now looking to extend the life-of-mine by upgrading the existing resource in the Five Mile deposit, as well as exploring the upside of the Seven Mile project, where iron-ore has been identified. The company would also look to increase the proposed production rate to 1.5-million tonnes a year, and to improve operational efficiencies in order to reduce the expected costs.

Eastern Resources is also looking at project partnership opportunities for Nowa Nowa, the company said on Monday.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Advanced Fire Suppression Technologies
Advanced Fire Suppression Technologies

Established on 1 March, 2000, by Barries Barnard, Advanced Fire Suppression Technologies (AFST) and the Advanced Group stands as Sub-Saharan...

VISIT SHOWROOM 
Bell Equipment
Bell Equipment

As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.059 1.014s - 114pq - 2rq
Subscribe Now