Fe Limited (ASX:FEL) has lodged its Works Approval application for the JWD Iron Ore Project with the WA Department of Water and Environmental Regulation (DWER).
The Works Approval is the only outstanding primary environmental approval required to facilitate commencement of works on site.
“Key milestone for the project”
FEL executive chairman Tony Sage said: “The submission of the Works Approval application is another key milestone for the JWD deposit.
“We expect to receive this approval in March 2021 and in the meantime our experienced team continue to work on port, transport and offtake agreements.”
Strong iron ore market outlook
FEL is determined to bring the projects to production as soon as possible with strong current market conditions and positive future fundamentals.
Prices remain high and China’s new 15-year plan was outlined recently which boosts confidence for FEL and the industry as a whole.
Sage said: “With iron ore demand extremely strong at present having a mature project like JWD that has the ability to supply high grade iron ore to the market in the near term has significant value to our shareholders.”
Upcoming workstreams
The additional workstreams conducted for JWD include:
- Mine planning including pit optimisations, updated pit designs and mine schedules to produce a premium lump and premium fines product (with updated mine plans demonstrating the ability to produce a more than 62% iron premium product for both the lump and the fines) and maximise early cashflow;
- A review of historical metallurgical test-work and steel making properties to be integrated into mine planning, product strategy and marketing;
- A review of road haulage routes and allowable road train configurations and different port options - which represent more than half of the C1 Cost for JWD and have an influence on capital;
- Discussions with potential contractors on mining, crushing, and screening, and haulage, with a view to updating cost estimates and formulating a fit-for-purpose, low capex, accelerated execution strategy; and
- Engaging with potential customers and investigating funding opportunities for the provision of working capital facilities to assist in the ramp-up.