Grange Resources Limited ( (AU:GRR) ) just unveiled an update.
Grange Resources Limited has completed a feasibility study for the Southdown Magnetite Project, indicating a 6% increase in ore reserves and a production capacity of 5 million tonnes per annum of high-quality magnetite concentrate. The project is expected to generate significant economic benefits, with a nominal project free cash flow of A$10.1 billion and an after-tax NPV of A$877 million. The company is actively seeking joint venture partners and long-term financing options to advance the project, which is strategically positioned to meet the increasing demand for direct reduction grade iron ore in the decarbonizing steel industry.
More about Grange Resources Limited
Grange Resources Limited is a company operating in the mining industry, focusing primarily on the production of magnetite concentrate. The company is involved in developing the Southdown Magnetite Project, which aims to produce high-quality magnetite concentrate for the direct reduced iron (DRI) market, catering to the growing demand for low carbon emission steel production.
YTD Price Performance: -33.82%
Average Trading Volume: 22,182
Technical Sentiment Signal: Strong Buy
Current Market Cap: $134.8M
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