A Preliminary Environmental Assessment report has also been completed with the JV partners reviewing costs and timing for the advancement of a definitive feasibility study.
The company has produced premium iron-vanadium concentrate at its Yarrabubba Iron-Vanadium Project and has signed a non-binding LOIwith Sinosteel Australia for life of mine offtake as well as an EPC contract.
The restart has been achieved in just six months following intensive work to prepare the site for their return to steelmaking operations after the previous owner fell into administration.
China's iron and steel industry has made significant green efforts to prevent carbon emissions and protect the environment during the 13th Five-Year Plan (2016-20) period.