Australia-based
iron ore company
Centaurus Metals Limited has announced that it has completed the feasibility study at its Candonga direct shipping ore project in southeastern
Brazil, confirming low-cost
iron ore operations from the project.
According to the company's feasibility report, the first
production from the Candonga project is expected in April 2015, following the end of the 2014/2015 wet season in southeastern
Brazil. Centaurus stated that both the environmental and
mining approvals processes are well advanced and on schedule, with final approvals for
mining expected by the first quarter of next year.
The company also announced a maiden ore reserve of 1.2 million metric tons at an average grade of 60.5 percent iron from the Candonga project.