Polaris to asses new iron ore mine
Australian mineral exploration company Polaris commenced a scoping study to measure the potential of an extensive magnetite rich banded iron formation on the part of the company's land near Southern Cross in Western
Australia.
The company anticipates that the study will show minimum reserves of 150 million metric tons that will in turn yield at least 2.5 million metric tons per annum over 20 years.
The company will carry out a pre-feasibility and feasibility study if the scoping study proves the veins are profitable.