Alderon Releases Updated Preliminary Economic Assessment VANCOUVER, British Columbia, Nov. 07, 2017 (GLOBE NEWSWIRE) -- Alderon Iron Ore Corp.(TSX:IRON) ("Alderon" or the “Company”) is pleased to announce that it has received the results of the updated preliminary economic assessment (“Updated PEA”) on the Rose Deposit of the Kamistiatusset (“Kami”) Iron Ore Project in Western Labrador. The Updated PEA is an update to a re-scoped preliminary economic assessment on the Kami Project that was issued on March 14, 2017 (the “March 2017 PEA”). The March 2017 PEA was prepared based on a plan to use the depleted pit at the Wabush Scully Mine as part of a tailings solution for the Kami Project. The Wabush Scully Mine was recently acquired by a third party who has stated its intention to re-open the mine. As a result, the Updated PEA has been prepared to remove the components related to the Wabush Scully Mine. “The Updated PEA demonstrates that, even without the use of the Wabush Scully Mine, the Kami Project maintains robust economics,” stated Mark Morabito, Chairman and CEO of Alderon. “The use of the depleted pit at the Wabush Scully Mine was just one of several cost saving strategies identified as part of the re-scope of the Kami Project. Furthermore, the marketability and payability for high-grade and low impurity iron ore, like the concentrate that will be produced from the Kami Project, continues to improve. Stricter environmental regulation has driven demand for the premium product, like what will be produced from the Kami Project, as it allows end users to improve productivity, reduce costs and meet more stringent environmental standards.” In particular, China's bid to reduce emissions is seeing an increase in domestic steel mills switching to high-grade iron ore products with fewer impurities. For the type of iron ore concentrate that the Kami Project will produce (in the order of 65% Fe), there is already a significant spread to the Platts 62% iron ore index price, that, on September 1, 2017, was pegged at US$23.50 per tonne. This spread has widened over the last 18 months and prices for high-grade ore are expected to continue to increase as environmental regulation becomes more stringent. At the same time, the spread between the 58% Fe and 62% Fe benchmark price has taken a similar course and penalties for lower grade products have increased. Highlights of the Updated PEA include: http://www.minenportal.de/artikel.php?sid=216666&lang=en#Alderon-Releases-Updated-Preliminary-Economic-Assessment target=
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