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- 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
