Catalina Resources (ASX: CTN) focuses on progressing re-permitting of iron ore project

September 15, 2023 10:42 AM AEST | By Sonal Goyal

Google News:

Catalina Resources (ASX: CTN) focuses on progressing re-permitting of iron ore project — Image source: Company update

Recent News

Datadog is a top 2nd-half pick at BofA

Macklem flags sharp export declines, inflation risks amid U.S. tariffs

Uber and Lyft stock fall after Waymo applies for NYC testing permit

Amex likely to hike Platinum card fees as Chase ups the ante, says Bof...

Highlights

Catalina Resources is committed to recommencing operations at its Tasmania-based iron ore project.

The company intends to recommence production of direct shipping ore resources from the existing open pit.

The referral application process has been completed.

Catalina Resources Limited (ASX: CTN) is focused on restarting operations at its Nelson Bay River Iron Project (Mining Lease 3M/2011), which sits within Tasmania.

The project is located within a proven mining jurisdcation which includes operating mines such as the Savage River Iron Ore project of ASX-listed Grange Resources

The focus is on progressing the re-permitting process of the project.

The mining, haulage and processing operation (all-contract) at NBR Direct Shipping Ore (DSO) project does not need processing except for crushing and screening. The ore would be then transported to the port for shipment.

The first ore shipment left the Burnie port in early 2014. During mid-2014, amid sharp fall in iron ore prices, the NBR project was put on care and maintenance.

Progress towards the project re-permitting

Recently, the company shared that the Department of Climate Change, Energy, the Environment and Water (DCCEW) notified regarding receiving its application for the project consideration under the Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act).

The referral application was lodged in early June 2023. The process has now progressed to the next level with the completion of the referral application.

Further plans

After the completion of the DSO pit, the next stage would be the north pit. The target of this pit is the main magnetite ore body. The company informed that at the top of the north pit is an ~20m section of beneficial oxide resource (higher-grade ore ). This section only needs dry magnetic separation along with screening and crushing before shipping.

NBR has a JORC compliant global iron Mineral Resource of 11.3Mt, including goethitic-hematite Mineral Resource of 1.4Mt and Magnetite Mineral Resource of 7.8Mt.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.