Latest Iron Ore News

Macro Metals has signed a binding agreement to sell its Agbaja Iron Ore Project in Nigeria for US$5.67 million, with completion scheduled for 7 December. The deal could leave the company with approximately A$7.7 million in cash and a sharper focus on Western Australian mining services and resource development.

Macarthur Minerals has secured a second Programme of Work approval for proposed bulk sampling at its Lake Giles Ularring Hematite Project. The milestone advances planning with Gold Valley and Destec, but the company stresses that it does not authorise mining, prove economic viability or amount to a final investment decision.

Admiralty Resources increased quarterly iron ore concentrate production at its Mariposa project by 32% to 41,792 tonnes, even as adverse weather suspended mining. The result relied on stockpiled ore while the processing plant remained in commissioning and the company carried A$9.66 million of drawn debt facilities.

Iron Bear Resources has retained full ownership of its Canadian iron ore project after Vale declined to advance under their development agreement. The company is now leaning on a completed PFS, a 3.3 billion tonne probable reserve and alternative funding partners to move the project forward.

Champion Iron’s second-quarter earnings collapsed as lower iron ore prices, higher freight and commissioning costs pushed the company into a C$48.4 million net loss. The first commercial DRPF shipment offers a strategic milestone, but the project is yet to deliver the higher prices and operating leverage investors are waiting for.

Hawsons Iron has confirmed a 69.3% Fe magnetite concentrate in bulk testwork and identified a possible second iron product from the processing waste stream. The gains arrive alongside a $1.23 million capital raise, but quarter-end cash covered only 1.22 quarters of reported outgoings before a later tax incentive receipt.

Magnetite Mines has raised approximately $1.32 million after its shareholder purchase plan reached capacity and a follow-on placement absorbed excess demand. The funding gives the Razorback project more room to progress, although the proposed free options remain subject to shareholder approval.

Equatorial Resources is awaiting a final ICSID ruling on its Congo iron ore dispute, with a decision indicatively possible in the first half of 2027. The company also remains unable to confirm the status of its Guinea permits, while holding A$6.8 million in cash.

Alchemy Resources has formalised a binding joint venture with Newcam Minerals, giving Newcam 60% of the Bryah Iron Ore Project and responsibility for advancing it towards feasibility. Alchemy retains a 40% interest free carried to a Decision to Mine, with drilling and environmental surveys due to begin shortly.

Fenix Resources has monetised most of its iron ore swap book for more than A$10 million, converting protection on 480,000 tonnes into near-term cash. The move leaves the company retaining diesel and currency hedges while restoring exposure to prevailing iron ore prices on the settled tonnes.

Strike Resources swung to an $8.58 million FY2026 profit, largely through its stake in LE Minerals rather than iron ore operations. The company is also relying on a conditional Apurimac sale for cash while withdrawing its previously reported mineral resource estimate.

Fenix Resources has moved into the next phase of its growth plan, commencing Beebyn Hub mining and commissioning a 5Mtpa processing plant after a quarter of heavy investment. Shipments fell and cash declined to A$43.2 million, but the company maintained FY27 guidance and secured more than five years of mine life at current production rates.