Macarthur Minerals Ltd. (TSX:MMS,OTCQX:MMSDF) announced that the preliminary feasibility study (PFS) for its Ularring hematite project indicates that the project is economically viable and should be developed further.
Alan Phillips, president, chairman and CEO of Macarthur, commented:
This study has been 11 months in development but it was important that we get it right. Macarthur does not want to be just another low grade iron ore producer. Instead we are aiming to deliver a high value iron ore product to the market and to be a Company positioned for the long term. Through beneficiation, we can fully utilise Macarthur’s resource inventory and deliver a plus ten year mine life. Moving forward, Macarthur is looking for ways to reduce the capital required, for example by having the beneficiation plant, power and water infrastructure and even the new mining camp being supplied under a third party build, own, operate model and by exploring common user road and rail infrastructure with other nearby iron ore producers.