Fe Limited (ASX:FEL) - Executive Chairman, Tony Sage
Executive Chairman, Tony Sage
Source: Business News
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Fe (FEL) fires the first blast as part of early pit development at the JWD Iron Ore Project in WA
  • A mining fleet and ancillary equipment have mobilised to the site
  • The project’s crushing and screening plant is scheduled for mobilisation this week ahead of wet commissioning later in June
  • FEL expects its JWD product will fetch a premium around US$45 (roughly A$58.4) per tonne
  • Fe shares are up by 3.6 per cent to 5.7 cents each at 1:45 pm AEST

Fe (FEL) has fired the first blast of ore and waste as part of early pit development at the JWD Iron Ore Project in Western Australia.

The blast, which contains high-grade hematite outcropping at surface, will reportedly form part of early crusher feed for the plant.

FEL said drill and strike testing would continue along strike at JWD, aimed at building broken stocks before mining load and haul operations commence.

Accordingly, a mining fleet and ancillary equipment have now been mobilised to the project, as contractor Big Yellow ramps up its number of personnel onsite.

Fe Executive Chairman Tony Sage said the first blast was a milestone for the project.

“The market for high-grade lump material like that we will produce from JWD remains extremely strong, so we are working hard to finalise the necessary logistics and offtake arrangements to get the product to market as soon as possible,” he said.

Meanwhile, earthworks for the crushing and screening plant are now complete, including access roads that will allow for early ore supply from the pit to the run-of-mine stockpile.

The plant is scheduled for mobilisation later this week ahead of wet commissioning later in June.

According to FEL, the 62-per-cent index price on iron ore remains robust, with the lump premium hitting historic highs of US$0.7 (around A$0.9) per dry metric tonne unit.

On the back of the index price, the company predicted a premium of around US$45 (roughly A$58.4) per tonne for its JWD product.

Fe shares were up by 3.6 per cent to trade at 5.7 cents each at 1:45 pm AEST

FEL by the numbers
More From The Market Online

WA1 Resources jumps 6% on high-grade niobium from drilling at Luni

WA1 Resources has jumped 6.5% in morning trades as the market responds favourably to the company's…
The Market Online Video

Barton Gold taps investors for $4M to fund Tunkillia study; drilling

Barton Gold (ASX:BGD) has announced it's raising $4M to advance key project studies at its Tunkillia…
The Market Online Video

Lithium Plus heading towards feasibility works at Lei deposit; MRE growth potential flagged

Lithium Plus Minerals (ASX:LPM) has revealed the company is preparing to get underway with feasibility works…

FireFly Metals announces port access & expansion; CFO resignation

FireFly Metals has inked a Port Access Agreement with TSXV-listed Maritime Resources Corp (TSXV:MAE), enabling FireFly…