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【Ferro-alloys.com】: The Mt Bevan magnetite project is on track to achieve several key milestones with help from a forward works plan.

A mining lease application was submitted in February as the joint venture (JV) partners, including Legacy Iron Ore (36.57 per cent ownership) and Gina Rinehart’s Hancock Magnetite (63.43 per cent ownership), look to upgrade the tenure from an exploration licence.

The JV partners are also advancing licence applications to carry out groundwater exploration and extraction and implement transport corridors and other infrastructure.

Environmental and heritage surveys are another priority, with a planned start in late March or April this year.

“The planned activities as per the feasibility studies stage one for the Mt Bevan project are progressing as per the project timeline,” Legacy chief executive officer Rakesh Gupta said.

“An application of a mining lease over the project marks a significant step towards the further development of the project, which has huge potential to shape the Yilgarn region mineral landscape.”

Mt Bevan holds significant potential with a 1.29-billion-tonne mineral resource estimate and the potential to achieve a direct reduced iron (DRI) product grade of approximately 70 per cent iron (Fe).

Once clearing the final hurdles, the project is expected to advance to a feasibility study before progressing to a final investment decision.

Mt Bevan is one of the Yilgarn region’s most important projects in recent memory, particularly given the closure of Mineral Resources’ Yilgarn iron ore operations in December 2024.

Mt Bevan is expected to produce a higher-grade product that will be a key input for more sustainable steelmaking.

• [Editor:Alakay]