Iron Ridge proves a treat for Fenix
PERTH (miningweekly.com) – A feasibility study into the Iron Ridge iron project, in Western Australia, has estimated that the project would produce some 1.25-million tons a year over a six-and-a-half year mine life.
ASX-listed Fenix Resources on Monday told shareholders that at an initial capital cost of only A$11.9-million, the project is expected to generate annual earnings before interest and tax of A$16.4-million and cash flows of A$110.4-million over the life of the project.
C1 costs have been estimated at A$76.86/t, while the feasibility study has estimated a net present value of A$54.3-million and an internal rate of return of 58.9%.
“This feasibility study demonstrates that Iron Ridge is an outstanding high-grade project which will generate strong financial returns,” said Fenix MD Rob Brierley.
“The study shows the project economics will benefit significantly from a combination of the high grade of the ore, the low capital costs and relatively low investment in infrastructure due to the proximity of an existing port and sealed roads.
“It has been less than 12 months since Fenix acquired the project and a feasibility study has already been completed. This highlights the quality and simplicity of the project.”
Brierley said Fenix was now in advanced discussions with potential offtake and funding partners, while contracts for port access, mining, road transport and port services were also being finalised.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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