PERTH (miningweekly.com) – Dry screening and associated mining operations have started at ASX-listed Venture Minerals’ Riley iron-ore mine, in Tasmania.
Venture earlier this month took a final investment decision on the A$3.6-million Riley project, which is expected to produce around one-million tonnes of 57% iron over a two-year mine life.
“Venture has successfully commenced dry screening operations at the Riley iron-ore mine, achieving yet another key milestone in the life of the project as it ramps up towards full-scale production,” said MD Andrew Radonjic.
“The iron-ore price continues to strengthen and the company looks forward to delivering the first shipment into this positive demand. The increased activity at the Riley mine continues to provide further economic benefits to the community of the West Coast of Tasmania at a time when it is greatly needed, and Venture is proud to be rewarding the support of the people of Tasmania in bringing this to fruition,'' he said.
The company said on Thursday that work on site is focused on establishing steady-state dry screening operations, using the most efficient configuration possible, with a view to maximise the economic benefits receivable from the upcoming first shipment of saleable iron-ore.
The dry screening operations is part of the ramp-up phase of the project, with full production to occur on the successful commissioning of the wet processing plant, which is still subject to financing.
Venture told shareholders that it is finalising financing options discussions, including for a debt facility to fund the construction of the wet screening plant.