BC looks at Buckland options
PERTH (miningweekly.com) – Iron-ore junior BC Iron is hoping to secure a partner for its Buckland project, in the Pilbara, within the next three to six months.
MD Morgan Ball said on Wednesday that the company was considering a range of development options for the Buckland project, which was acquired with the takeover of junior Iron Ore Holdings (IOH) at the end of last year.
IOH had considered an eight-million-tonne-a-year development at Buckland, with a prefeasibility study (PFS) estimating that the project would require a capital investment of some A$744-million. The project was expected to deliver average yearly earnings before interest, taxes, depreciation and amortisation of about A$260-million a year, over a mine life of 15 years.
“We are revisiting the PFS and thinking outside of the box. There are a number of interesting options we are considering, and it could be the eight-million-tonne-a-year option, it could be a smaller start-up mine involving less capital, or it could be a larger mine consolidating tenements in the region,” Ball told delegates at the Global Iron and Steel Forecast conference, in Perth.
He added that BC was also considering transport options for the Buckland project.
Meanwhile, on the back of a review of the PFS, the company was also engaging with potential project partners, which could include equity, financing and offtake partners.
“We have always been pragmatic in our deals to make a project work, and we don’t have to own the project fully,” Ball said.
Despite BC’s expected work at Buckland, the company did not expect to incur any great expenses over the next six months.
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