Wilcherry Hill iron ore shipments a step closer after South Australian Government approval

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IronClad Mining has taken another step towards utilising the cash generating potential of the company's new Wilcherry Hill mine.

The South Australian Government has now approved the development application for port facilities designed for iron ore shipments from the project. A major plus for Wilcherry Hill is that the first two years of production from the project has been contracted for sale to international steel mills under comprehensive sales and marketing agreements. Additionally, 50% of year three and four’s forecast production has been contracted for sale through an off-take agreement with Hong Kong based company New Page Investments Limited. Stage one at the project includes the production of 1 million tonnes per annum of direct shipping ore magnetite, which will double in the second year of operation. Wayne Richards, managing director, commented on the positive development news for the company: “We are most appreciative of the South Australian Government’s expeditious approval of this Development Application for another vital piece of...