Cyclone Metals Limited has released the results of its Scoping Study for its flagship Iron Bear Project, located in the Labrador Trough, Canada. The study outlines the potential for a long-life magnetite operation, which would produce premium iron ore products aligned with the demand for low-carbon “green steel”.
The Scoping Study evaluates three production scenarios — Low Case (12.5Mt p.a.), Base Case (25Mt p.a.), and High Case (50Mt p.a.) — underpinned by a JORC 2012-compliant Mineral Resource of 16.66 billion tonnes at 29.3% Fe, including 2.15 billion tonnes in the Indicated category. With the iron ore price assumption of USD 90/t (62% Fe benchmark, 2035 real terms) and staged development, the project demonstrates strong economics, robust margins, and sustainable development credentials.
Courtesy of Samso.