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Flinders Mines Limited announces commencement of a Scoping Study for the Pilbara Iron Ore Project in Western Australia.
The study aims to develop resources producing a +60% Fe direct shipping ore product, focusing on accessibility, minimizing capital expenditure, reducing carbon footprint, and engaging with Traditional Owners.
First ore to market is targeted for 2025, subject to regulatory and third-party approvals and financing.
Completion of the Proposed Transaction will consolidate ownership of the Pilbara Iron Ore Project and Infrastructure Project under the one corporate entity, Flinders Mines.
Flinders has entered into binding agreements with BBIG in relation to the acquisition of FRS, the holder of various assets critical to the development of export infrastructure, including the Balla Balla Port for a total consideration of $3.3 million.
The Proposed Transaction represents a pathway to the development of PIOP, through providing a potential infrastructure solution and access to market.