Overview of Red Hawk Mining's Blacksmith iron ore project

Red Hawk Mining (ASX: $RHK) has released the Pre-Feasibility Study for the Blacksmith Iron Ore Project, showcasing the economic viability of developing a 5Mtpa direct shipping ore (DSO) project. The study includes the maiden ore reserve at the Delta deposit, underpinning the first 13 years of production, and an AACE Class 4 capital and operating cost estimate. The company remains committed to delivering first ore on ship in late 2025 and will move rapidly onto preparation of a Definitive Feasibility Study.

Executive commentary on the Blacksmith iron ore project

The Hon. Cheryl Edwardes AM, Chair of Red Hawk Mining, expressed pride in the team and consultants for delivering an outstanding Pre-Feasibility Study for the Blacksmith Project. The increase in scope to 5Mtpa and continued optimization of mining, process, and haulage has created a technically robust and financially attractive project. The company remains focused on delivering first ore on ship in late 2025, with all workstreams driven by this goal.

Summary of Red Hawk Mining's Blacksmith iron ore project

Red Hawk Mining's Pre-Feasibility Study for the Blacksmith Iron Ore Project demonstrates the economic viability of developing a 5Mtpa DSO project, with the maiden ore reserve at the Delta deposit underpinning the first 13 years of production. The company is committed to delivering first ore on ship in late 2025 and will move rapidly onto preparation of a Definitive Feasibility Study. The project is strategically located in an area with significant road, rail, and power infrastructure, and the company has formed strategic partnerships to optimize transport and logistics strategy. With a focus on sustainability and high-quality consultants and partners, Red Hawk Mining aims to produce a high-demand fines product with a competitive chemical specification. The project's financial analysis shows promising pre-tax NPV and IRR, positioning it competitively in the global iron ore cost curve. Red Hawk Mining is targeting the first ore from the Blacksmith Project in 4Q 2025, leveraging historical project development activities and contractors to support the construction and operation of major project components.