Australia-based miner Cyclone Metals has completed a scoping study for the Iron Bear project in Canada, revealing extraordinary fundamentals and highlighting one of the world’s largest and highest-quality undeveloped iron ore resources. With a colossal 16.66 billion mt of iron ore resources at 29.3 percent Fe content, the project combines vast scale, premium-grade product potential, and a robust 18-year mine life - all while utilizing less than nine percent of its total resource base.
Cyclone Metals aims to produce 25 million mt annually of high-value iron ore products, including 16 million mt of blast furnace magnetite concentrate and 9 million mt of direct reduction (DR) pellets.
Tests conducted by Corem, a leading Canadian research center, confirmed that Iron Bear’s products outperform industry benchmarks. The blast furnace concentrate’s Fe content of 69.8 percent far surpasses the global standard, while the DR-grade pellets delivered exceptional metallurgical performance, with a cold crushing strength of 346 kg, excellent reducibility, and high metallization.
Pre-feasibility study on the mining operations will commence imminently and is on target for completion by the second quarter of 2026.
