Australia-based miner Royal Resources Limited has announced that it has completed the pre-feasibility study on its Razorback
iron ore project in Adelaide, South
Australia.
Accordingly, Royal Resources anticipates an annual
mining rate of 40 million mt of
iron ore, with a targeted production of 8.2 million mt per year of
iron ore concentrate. The pre-feasibility study also indicated that the capital expenditure for the project is estimated at $2.23 billion.
As SteelOrbis previously reported, drilling at the Razorback
iron ore project started in September 2011.