Hawsons Iron Ltd has this week announced a 21% increase in the Broken Hill iron project’s mineral resource estimate to 484 million tonnes (Mt), up from 400Mt.
The project will produce up to 20 million tonnes a year of high-grade magnetite concentrate and has been identified by independent analysts as the world’s leading undeveloped high quality iron ore concentrate and pellet feed project.
Hawsons says independent studies have confirmed the project is capable of producing the world’s highest-grade iron products, meeting the demand from steelmakers for higher grades capable of curbing pollution and increasing productivity.
The mine is set to open in the second half of 2024, with at least a 20-year lifespan, and financing is currently being sought.
The superior quality of the mined product should reduce the amount of energy needed to produce steel, helping to drive down emissions in the steel industry right across the world.
The project will see a workforce of up to 1200 over the 18-month construction phase and 500 ongoing jobs each year during the 20-plus-year life of the mine.
Managing Director Bryan Granzien said this week, “we’re absolutely delighted with the outcome which now sets the scene for getting on with the next stage, including completion of our detailed mine design and engineering.”
The increase in mineral resources was revealed after an infill drilling campaign completed in 2021-22.
“This upgraded mineral resource estimate will now be used for discussions with potential project financiers and as the basis for all our ongoing technical work,” Mr Granzien said.
“We also expect to announce a further mineral resource upgrade by the end of the September quarter to report on the results from the outstanding drilling samples which are being analysed by Bureau Veritas and added to the drillhole database,” Mr Granzien said.
“The process plant’s expected performance and ability is projected to achieve a 70% Fe product,” he said.
The planned mine is in the Braemar iron ore region, 60km from Broken Hill near the South Australian border.
