Macarthur Minerals has announced the company filed the NI43-101 Technical Report for the feasibility study of its high-grade magnetite Lake Giles iron ore project in Australia’s western part.
“The results confirm that the project is economically viable under long-term iron ore price forecasts,” the Australia-focused miner said in a statement.
The feasibility study confirms Lake Giles is an “economically viable project producing 3 million tonnes per annum (dry basis) of high-grade magnetite concentrate over a 25-year mine life. The project will leverage off access to existing regional rail and port infrastructure and deliver a premium concentrate (66% Fe) product with low impurities. The Feasibility Study underpins a maiden Mineral Reserve of 237 million tonnes as reported to the market,” according to the statement.