Latest Iron Ore Projects News

Macro Metals turned a largely exploratory business into a revenue-generating mining services operator in FY26, with statutory revenue rising to A$1.72 million and approximately A$21.13 million of work awarded. The progress came with a material warning: the auditor said additional funding remains necessary to support the company as it grows.

Killi Resources has emerged from FY2026 with $14.68 million in cash and a far larger strategic ambition, centred on its proposed 80% acquisition of the Lodestone Iron Ore Project. The company remains loss-making and the transaction was still conditional at year-end, but a 20,000-metre drilling campaign is now targeting rapid resource growth.

Hawthorn Resources reported a wider Australian-dollar loss for FY2026, with revenue falling sharply and cash declining by $1.53 million. The company is directing its remaining balance sheet toward exploration at the Trouser Legs gold joint venture and Mount Bevan’s other minerals project.

Eminence Minerals has cut its FY2026 loss and raised its pro forma cash position to about A$5.4 million after selling the Mata da Corda titanium project. The portfolio is now centred on Hamersley iron ore and Brazilian rare earth exploration, but heritage litigation, ungranted tenure and future funding needs remain material constraints.

Peregrine Gold has reported a $3.47 million FY2026 loss and $3.56 million operating cash outflow, with its auditor highlighting material uncertainty over the company’s ability to continue as a going concern. Against that financial pressure, the ASX-listed explorer is preparing RC drilling across two high-grade channel iron prospects and advancing several gold targets in the Pilbara.

Equatorial Resources has completed the final procedural steps in its high-value Congo arbitration, with an ICSID award indicatively expected in the first half of 2027. The cash-backed explorer is also defending a separate A$4.85 million claim from former legal adviser Clifford Chance.

Iron Bear Resources says a new federal-provincial assessment framework, major Labrador clean-energy investment and strategic-project coordination could improve the development pathway for its Canadian iron ore project. The initiatives are supportive, but they do not yet represent project approvals, secured power or construction funding.

Strike Resources delivered an A$8.58 million full-year profit, but the result was driven largely by its equity-accounted investment in LE Minerals rather than operating cash generation. The company is also relying on a conditional A$5.5 million Apurimac stake sale to strengthen its funding position in Peru.

Catalina Resources has executed the mining lease transfer for its Nelson Bay River project, paving the way for up to $1.29 million in rehabilitation security to be recovered. The company plans to redirect the capital into November drilling at its Kirkalocka gold and Tallering tungsten projects, subject to final heritage clearance and regulatory steps.

Arrow Minerals has applied for an iron ore exploration tenement adjoining Rio Tinto's Robe Valley operations in Western Australia, a move that could expand its prospective landholding by 30% to 415 square kilometres. The application remains subject to tenure award, and no resource or economic estimate has been announced.

Magnetite Mines has unveiled a revamped scoping study for its Razorback Iron Ore Project, introducing key design changes to reduce capital costs and boost project viability. The company is also actively pursuing funding options including royalty arrangements and strategic partnerships.

Fenix Resources has announced a maiden Ore Reserve of 26.9 million tonnes at 60.0% iron for its Beebyn Hub, combining the updated Beebyn-W11 and new Beebyn-W10 Stage 1 mines. This reserve underpins the company’s plan to ramp production to 6 million tonnes per annum by FY28 and secures over five years of mine life at current rates.