Décision finale d'investissement prise, première phase d'une capacité extractive de 35 millions de tonnes par an.
https://www.mining-technology.com/news/ ... lian-iron/MinRes reaches positive FID on $2bn Australian iron ore project
The first phase of the Onslow iron-ore project is expected to have production capacity of 35 million tonnes per annum.
August 30, 2022
Mineral Resources (MinRes) has announced a positive final investment decision (FID) on the A$3bn ($2bn) Onslow iron-ore project in the West Pilbara region of Western Australia.
Made through Red Hill Iron Joint Venture (RHIOJV), the FID for the Onslow iron ore project is expected to unlock the stranded deposits at the property that would otherwise remain undeveloped.
MinRes said in a statement: “It’s a flagship iron ore project for MinRes as we transition to low cost, long life operations with compelling project economics through commodity price cycles.”
The first phase of the project is expected to have an annual production capacity of 35 million tonnes.
Located 150km east of Onslow, the mine forms part of the Ashburton hub, which is estimated to cost between A$2.4bn and A$2.55bn to develop.
MinRes owns a 40% stake in the RHIOJV, whereas API Management (APIM), which is a 50:50 JV between Aquila Steel and AMCI (IO), owns the remaining stake.
The other parties in the Red RHIOJV include state-owned Chinese steelmaker Baowu, South Korean steelmaker POSCO, and US-based resource company investor AMCI Investments.
Furthermore, MinRes signed a binding project development term sheet to earn a further 17% stake in the RHIOJV in exchange for financing $1.3bn of the project’s capital expenditure, through a loan.