viewEastern Iron

Eastern Iron edges closer to production with iron mining licence grant, Victoria


Eastern Iron (ASX: EFE) has been granted a mining licence for its Nowa Nowa Iron Project in Victoria, 250 kilometres east of Melbourne.

EFE is investigating the potential to mine high-grade iron ore from several magnetite and hematite deposits situated close to the Princes Highway.

The Princes Highway is a main arterial road which would make the transport component of operating expenditure particularly low in a future mining operation.

EFE intends to extract the iron ore from the Five Mile deposit using open pit mining techniques and simple, dry, low intensity magnetic separation processing on site, which will also be very low cost.

Iron product would then be trucked to a port in southern New South Wales.

The grant of the mining licence is an important milestone towards developing Nowa Nowa Iron, and completion of the Definitive Feasibility Study is expected by the middle of this year.

Nowa Nowa holds a Resource of 9.6 million tonnes grading 58% iron, and EFE is capitalised at a modest $7 million.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Eastern Iron

Price: 0.005 AUD

Market: ASX
Market Cap: $2.06 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



PolarX encounters encouraging results in drilling at Alaska Range project

PolarX Ltd (ASX:PXX) managing director Frazer Tabeart updates Proactive on first drilling results from the Mars and Saturn prospects in the Alaska Range project in Alaska. The drilling at Mars intersected porphyry-style veins containing visible copper and molybdenum sulphides. Tabeart said...

2 hours, 39 minutes ago

2 min read