Iron Road owns the Central Eyre Iron Project near Warramboo in South Australia.Recently it has been one of the proponents of a new “green” export facility at Cape Hardy in region SA, but news about the project underpinning those plans has been relatively scant.An “optimisation” study back in 2015 placed a US$4.6 billion overall cost (including a $570m pre-strip) on developing a 24Mtpa mine producing a 67% concentrate with low impurities, a capital investment even BHP and Rio would struggle to find the money for at that sort of production rate.In 2017 that was cut to $US3.7b and then US$1.74b in 2019 by reducing its targeted production rate to 12Mtpa, replacing rail with road trains and a reduction in power requirements.South Australia has a rich history of magnetite iron ore production, with Whyalla Steelworks owner GFG Alliance running the Simec Mining Middleback Ranges mine site around 60km from the steel town.Most of the 1.3Mtpa of high grade pellets are supplied to the Whyalla Steelworks, with around 10Mtpa of hematite ore shipped to Asian customers.
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