A feasibility study into the Iron Ridge iron project, in Western Australia, has estimated that the project would produce some 1.25-million tons a year over a six-and-a-half year mine life.
ASX-listed Fenix Resources on Monday told shareholders that at an initial capital cost of only A$11.9-million, the project is expected to generate annual earnings before interest, and tax of A$16.4-million and cash flows of A$110.4-million over the life of the project.