Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Hawsons Iron (HIO) directs its bankable feasibility study (BFS) to solely focus on developing a 20 million tonne per annum for its Hawsons iron project in New South Wales
  • Whilst capital costs are expected to increase, the BFS team expects an offset from the project economics and potential environmental, social and governance outcomes
  • In addition, the company executed a non-binding memorandum of understanding (MOU) with Flinders Ports, which will potentially see assistance with its port for exports
  • Under the MOU, Flinders Ports will cooperate on the design, construction, and operation of the Myonie Point Port
  • Shares in the company are up 11.7 per cent, trading at 43 cents per share at 10:07 am

Hawsons Iron (HIO) has directed its bankable feasibility study (BFS) to solely focus on developing a 20 million tonne per annum (Mtpa) for its Hawsons iron project in New South Wales.

Whilst capital costs are expected to increase, the BFS team expects an offset from the project economics and potential environmental, social and governance (ESG) outcomes.

In addition, the company executed a non-binding memorandum of understanding (MOU) with Flinders Ports, which will potentially see assistance with its port for exports.

Under the MOU, Flinders Ports will cooperate on the design, construction, and operation of the Myonie Point Port.

This underpinned the company’s BFS decision as capital requirements for the project are expected to be reduced. 

The company said the development of a 20 Mtpa magenitite mine would require a review of the project’s schedule to map out a plan to construct a slurry pipeline to the port.

Chairman Dave Woodall said the BFS is targeted for completion in December, with first production anticipated for the second half of 2024.

“The team of leading global partners and specialists we’ve engaged to complete the BFS now have 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.

Shares in the company were up 11.7 per cent, trading at 43 cents per share at 10:07 am.

HIO by the numbers
More From The Market Herald
Bubs (ASX:BUB) - Chairman, Dennis Lin and CEO, Kristy Carr

" Bubs Australia (ASX:BUB) to land fourth plane in the US, enters new supply agreements

Bubs Australia (ASX:BUB) has struck supply agreements with two new US retailer banner groups, H-E-B Grocery…

" NeuRizer (ASX:NRZ) signs $1.5b binding off take agreement with Daelim

Neurizer (ASX:NRZ) finalises a binding offtake agreement with South Korean contractor Daelim worth $1.5 billion for…
The Market Herald Video

" Lodestar Minerals (ASX:LSR) begins soil sampling at Earaheedy-Imbin project after rain delay

Lodestar Minerals (ASX:LSR) has begun soil sampling across its Earaheedy-Imbin project in the Earaheedy Basin of…
Tietto Minerals (ASX:TIE) - Managing Director, Dr Caigen Wang

" Tietto Minerals (ASX:TIE) hits 131.29g/t gold at AG Core

Tietto Minerals (ASX:TIE) has intersected up to 131.29g/t gold from AG Core within its Abujar gold…