Australian miner Cyclone Metals has announced that it has commenced direct reduction (DR) grade pellet production at its Iron Bear iron ore project in Canada. DR pellets are critical for green steel production and are projected to be in very high demand in the next couple of years as numerous direct reduction steel plants are being built in the Middle East, the US, and Canada.
The company stated that its next key value milestones are the production of high-quality DR pellets for DR steel mills and the establishment of a joint venture with a strong operational partner to fund the Iron Bear project development.
In the short term, Cyclone is focusing on refining the chemistry of DR pellets and on evaluating the potential of direct shipping ore and magnetite outcrops.
