Australian miner CuFe Limited has announced that it has completed the sale of its iron ore rights pertaining to the JWD iron ore mine in Western Australia to Newcam Minerals Pty Ltd. This sale is in line with CuFe’s focus on high-grade iron ore and key strategic metals like lithium.
The final adjustments related to previous sales, inventory, and cost allocations are expected to be settled within the current quarter.
The alternative to the sale worth A$12 million was suspending the mine which would create an extra cost, as SteelOrbis previously reported. The JWD mine is a single iron ore deposit with a total run of mine ore inventory of approximately three million mt.
