GFG Alliance signed an agreement with Havilah Resources Limited in Whyalla, SA, with the intent to support the development of iron ore and copper concentrate in SA to potentially feed its planned landmark Next‐Gen 10 Mt steel plant and its copper smelter project in Whyalla.
The proposed transaction contemplates an investment of up to $100.0 million with respect to the Grants/Maldorky iron ore project and the copper prospects in Havilah’s Mutooroo Copper‐Cobalt District, including the Mutooroo deposit in the Curnamona Craton of South Australia.
The investment consists of a staged equity investment over a 3 year period.
Funds will be used for agreed work programs to advance the projects to completed definitive feasibility studies, as well as for exploration, corporate and administration costs.
GFG Alliance Executive Chairman, Sanjeev Gupta, said of the agreement, “This is an important step forward in realising our vision for our landmark Next‐Gen steel plant and a copper smelter in Whyalla.”
This article was first published in The Fence magazine.