Iron Road has further reduced costs at its wholly-owned Central Eyre iron project (CEIP) in South Australia.

The latest move is part of the project commercialisation programme, which is being undertaken by the company and China Railway Group (CREC) together.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Iron Road has targeted a minimum 15% reduction in life of mine (LoM) OPEX as well as CAPEX.

Since the completion of the optimisation studies during 2014 – 2015, a sustained downward shift was witnessed in the market pricing of operating consumables.

"Together with its partners, Iron Road is continuing to get on with the business of assembling the CEIP development consortium and refining the project economics."

Globally, development activity of resources sector also continues to unwind rapidly in a direct response to weak commodity prices putting additional downward pressure on CAPEX estimates, the company said.

The company said that the LoM average free-on-board (FOB) price had been minimised to $35.38/t as the market repriced operating consumables, including diesel, explosives, process plant grinding media and mill liners.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Together, they comprise 33% of FOB operating costs.

Iron Road managing director Andrew Stocks said: "Following the recent signing of our pivotal Strategic Co-operation Agreement with China Railway Group and a further tripartite agreement with China Railway and Shandong Iron and Steel Group, we are maintaining genuine momentum in advancing towards a final investment decision."

Together with its partners, Iron Road is continuing to get on with the business of assembling the CEIP development consortium and refining the project economics.

The project is located on the Eyre Peninsula and is a collection of three iron occurrences, which include Warramboo, Kopi and Hambidge.