Why are these iron ore stocks garnering attention?

4 min read | December 20, 2022 06:51 PM AEDT | By Team Kalkine Media

Google News:

Why are these iron ore stocks garnering attention? — Image source: © Wlad74 | Megapixl.com

Recent News

Pilbara Minerals (ASX:PLS) Lithium Shift: Is Battery Storage the Next...

Pilbara Minerals (ASX:PLS) and Lithium Margin Reset: The Signal ASX Is...

BHP (ASX:BHP) Faces China Steel Demand Test as Iron Ore Stocks Shift

Goodman Group (ASX:GMG): Why REIT Rate Sensitivity Is Back on the Rada...

Make Kalkine Media
My Trusted Source

Highlights

Iron ore exports from Australia are expected to reach 959 million tonnes by 2024

Havilah Resources received funding for three months from OZ Mineral Ltd. under their Strategic Alliance Agreement

Mineral Resources shipped 4.5M wet metric tonnes of iron ore in the September quarter.

Mount Gibson reported an increase of 38% in iron ore production at the Koolan Project over previous quarter

Metallic iron can be extracted economically from rocks and minerals known as iron ores. Magnetite, hematite, and limonite are major ores for iron extraction. The world produced around 2,537 million tonnes of iron in 2021, and Australia’s contribution was approximately 35%. Australia also has about 29% of the global reserves of iron ore.

Iron ore exports from Australia are expected to reach 959 million tonnes by 2024. Let us see some of the ASX-listed iron stocks that have performed well in the last 12 months:

Havilah Resources Ltd. (ASX:HAV)

Australia-based mineral exploration company Havilah Resources Ltd. has a vast commodities portfolio, including iron ore, copper, gold, cobalt, uranium, and rare earth elements (REE). As per the JORC Mineral Resource Estimate, the Company’s metal inventory comprises 451Mt of iron ore, 1.3Mt of copper, 43.4kt of cobalt, 3.2 million ounces of gold, and appreciable amounts of tin, uranium, REE, molybdenum and sulphur.

In September 2022, the Company received funding for three months from OZ Mineral Ltd. (ASX:OZL) under their Strategic Alliance Agreement that was signed in July. Exploration drilling commenced at copper prospects in the vicinity of the Kalkaroo copper-gold-cobalt deposit project. It will focus on seven high-priority copper target areas and consist of 12,530 metres 66 firm drillholes and 7,370 metres 39 contingent drillholes.

The Maldorky project has so far provided high-yield and high-iron recoveries. Iron ore can be upgraded to a 65% Fe high-quality product suitable for pelletising.

Mineral Resources Ltd. (ASX:MIN)

A Western Australia-based exploration company, Mineral Resources Ltd., has a portfolio of mining operations consisting of iron ore, lithium and energy. Mineral Resources has become Australia’s fifth-largest iron ore producer.

The Company has three iron ore projects in Western Australia: Yilgarn, Pilbara and Ashburton. It is also developing two high-quality projects: Onslow Iron and South West Creek to become a low-cost and lifelong exporter of iron ore.

The company shipped a total of 4.5M wet metric tonnes of iron ore in the September quarter. It was found to be in line with the mine plan and the guidance of the financial year 2023. As a part of the company’s Onslow Iron Project, a Final Investment Decision was made to develop the Red Hill Iron Ore Joint Venture. The Onslow Project will have a mining rate of more than 30 Mtpa and a life of more than 30 years.

MinRes drilled a total of 17,315m reverse circulation (RC) and 1,103m diamond core under the Phase 1 drilling program at the Yilgarn hub.

Mount Gibson Iron Ltd. (ASX:MGX)

An ASX-listed iron ore producing company, Mount Gibson, has assets in Western Australia's Kimberley and Mid-West regions. So far, the company has exported more than 80 million tonnes of iron ore. The Koolan Island mine is the flagship production asset and is believed to have the highest grade of iron ore reserve of any operational direct-shipping hematite mine in Australia.

The iron ore mining at Koolan increased 38% over the previous quarter and reached 0.9 million wet metric tonnes (Mwmt). Repair works of the processing plant at Koolan Island that was damaged by fire are expected to be completed by January 2023. Mount Gibson has not changed the sales guidance for high-grade ore from Koolan Island in the financial year 2022-23 and stands at 3.2-3.7 Mwmt.

Red Hill Iron Ltd. (ASX:RHI)

Mineral and exploration company Red Hill Iron Ltd. is currently focusing on exploring non-ferrous minerals in the Western Pilbara region, West Australia. The targeted minerals are gold and battery metals. Red Hill is continuing the development of Pannawonica Channel Iron Deposits in the Three Peaks project.

The Company announced that MinRes was targeting the first iron ore shipment from the Red Hill Iron Ore Joint Venture (RHIOJV) in December 2023. The VTEM MAX airborne survey for the 5,426-kilometre line was commenced over the northern tenements of RHIOJV. The dataset will be merged with data from southern tenements to provide full coverage of gold and base metal targets.

The reverse circulation program consisting of three holes has been completed at the Three Peaks prospect to target skarn mineralisation within dolomite.

Data: ASX as on 20 December 2022

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.