Hawsons Iron Ltd (ASX:HIO) owns the Hawsons magnetite iron ore project in Broken Hill, NSW and is expected to produce a high-grade (70% Fe) iron ore product well suited to steel industry decarbonisation initiatives and ‘green steel’ production.
The company’s executive team has endorsed a 20 million tonnes per annum project and will progress a bankable feasibility study, targeting completion by year’s end.
Hawsons has moved away from an earlier 10 million tonnes idea, preferring the “expected superior economics, ESG outcomes and investment appeal” tied to a 20 million tonnes model.
Concurrently, the company has inked an MoU with Flinders Ports to jointly design, construct and operate a greenfields Myponie Point Port to export Hawsons’ magnetite concentrate.
With its 20 million tonnes focus and the milestone MoU at hand, Hawsons moves a step closer to meeting demand for high-grade products, essential for decarbonising steelmaking.
Recent milestones.
Aiming for first production in 2024
Hawsons chair Dave Woodall said developing a 20 million tonnes per annum magnetite mine would necessitate a review of the project’s schedule.
Subsequently, this will facilitate the design, approval and construction of a dedicated underground slurry pipeline to a deep-water port export facility at Myponie Point on South Australia’s eastern Spencer Gulf.
Share price performance and key milestones.
Looking ahead, Woodall said the company was targeting BFS completion in December and it hoped to get first production underway in the second half of 2024.
“The team of leading global partners and specialists we’ve engaged to complete the BFS now has the additional information required to undertake detailed engineering design and update the project’s estimated delivery timetable which we will release once completed,” he said.
Upcoming key developments.
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