JOHANNESBURG (miningweekly.com) – ASX-listed Hannans said on Thursday that a third party was granted an exclusive right to conduct a due diligence on its Rakkuri iron project, near Kiruna, in Sweden. The period of exclusivity ends on September 1.
Hannans said it had received interest from “a number” of parties regarding exploration, development and extraction of the iron-ore deposits at Rakkuri.
The project comprises two iron deposits, namely Rakkurijoki and Rakkurijarvi. A positive scoping study, which Hannans released to the market earlier this month, determined that the Rakkurijoki deposit had the potential to supply an iron product over a 12-year mine life, at a premium price, to the European, Middle East and North African markets. The study evaluated the practicality of combining a low-cost logistics solution with the least mining, processing, financial and execution risk.
The Rakkurijarvi deposit, 2.5 km south-west of Rakkurijoki, will now be combined in a prefeasibility study.