Total
0
Shares
Fe Limited (ASX:FEL) - Executive Chairman, Tony Sage - The Market Herald
Executive Chairman, Tony Sage
Source: Business News
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • 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 Herald
Variscan Mines (ASX:VAR) - - The Market Herald

" Variscan Mines (ASX:VAR) looks to restart drills following zinc finds

Assays from Variscan Mines’ (VAR) Novales-Udias Project in Spain yield potential high-grade zinc mineralisation warranting a near-term follow up drill campaign.
FYI Resources (ASX:FYI) - - The Market Herald

" FYI Resources (ASX:FYI) and Alcoa potential JV to wait another month

FYI Resources (FYI) and Alcoa Australia have extended the exclusive agreement period for a possible high purity alumina (HPA) joint venture.
Lithium Australia’s (ASX:LIT) subsidiary granted patent for cathode powder

" Lithium Australia’s (ASX:LIT) subsidiary granted patent for cathode powder

Lithium Australia’s (LIT) VSPC subsidiary has been granted an Australian patent covering the production of nickel-and-cobalt-free battery cathode powders.
Peak Resources (ASX:PEK) - Managing Director, Bardin Davis - The Market Herald

" Peak Resources (ASX:PEK) shares ascend on mining licence win

Peak Resources (PEK) shares enjoyed a 37 per cent rise after being granted a special mining licence for the Ngualla Rare Earth Project