PERTH (miningweekly.com) – Junior Fenix Resources has secured approvals from the Western Australian Department of Mines, Industry Regulation and Safety for the project management plan and clearing permit for Stage 1 of its Iron Ridge direct shipping ore (DSO) project.
Fenix on Tuesday said that the approvals would allow mine development to start.
“We are all set to commence work on site before the end of this month, in line with our previously announced timeline to achieve first sales in early 2021,” said MD Rob Brierley.
A 2019 feasibility study estimated that the project would produce some 1.25-million tons a year over a six-and-a-half year mine life, and would require a capital investment of A$11.9-million.
The company at the end of August announced a A$15-million capital raise to fund the construction of the project, and on Monday said that following the settlement of the first tranche of the proposed capital raising, which consists of some A$10-million, the company has moved to rapidly secure camp buildings and key heavy vehicle equipment for road transport.