Mindax expands Mt Forrest DSO plans
PERTH (miningweekly.com) – An updated scoping study for ASX-listed junior Mindax’s Mount Forrest direct shipping ore (DSO) project, in Western Australia, has widened the project parameters, increasing both output and mine life.
A previously completed scoping study had suggested that the Mt Forrest project could deliver 1.3-million tons a year of DSO product over a life-of-mine of seven years, along with ten-million tons a year of magnetite product, over an 18-year mine life.
The new scoping study suggested that the DSO project could deliver two-million tonnes a year of product, over a five-year mine life.
Mindax said that the focus of the updated scoping study was to take a holistic approach to the Mt Forrest project, with detailed emphasis on the intial DSO phase.
A more substantial first phase DSO project was determined by including detrital iron resources, which was established in 2013. The new study also incorporated regolith material from updated resource.
Initial capital costs of A$177-million have been estimated for the project, covering the feasibility study, mine development and infrastructure.
Mindax said that the Mt Forrest project would be developed in a joint venture (JV) with Perpetual Mining Holding Limited, with subsidiary Yilgiron becoming the JV vehicle.
Once formed, the JV would start the feasibility work, with the updated scoping study providing a strong basis for the start of this work.
Subject to securing regulatory approvals and the outcome of the feasibility work, DSO mining was expected to start in mid-2015.
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