In the dynamic realm of mining, Cyclone Metals astounds as metallurgical tests on its Iron Bear magnetite project yield a world-class direct reduction (DR) magnetite concentrate boasting 70.6% iron. This significant achievement follows successful testing of a high-grade blast furnace (BF) magnetite concentrate grading 68.7% iron merely two weeks prior. The strategic addition of a reverse flotation step to the Iron Bear BF concentrate unlocked this success, showcasing Cyclone Metals' prowess in refining its processes.
Cyclone Metals, listed on ASX as CLE, has soared past a pivotal moment in its Iron Bear magnetite project. The recent metallurgical tests unveiled a direct reduction (DR) magnetite concentrate with a staggering 70.6% iron content. This achievement builds on the success of generating a high-grade blast furnace (BF) magnetite concentrate grading 68.7% iron a mere fortnight earlier. The key to this success lies in Cyclone Metals' innovative approach, introducing a reverse flotation step to the Iron Bear BF concentrate.
The iron ore concentrate, boasting a market price of US$159 per ton to China, carries a US$25 premium above the 62% iron benchmark. Cyclone Metals, recognizing the strategic value of their accomplishment, is poised for future success in the development of its Iron Bear project, which harbors a resource of 7.2 billion tons grading 29% iron in Canada’s Labrador Trough.
The significance of this achievement extends beyond mere numbers. High-grade magnetite concentrates are highly sought-after for their application in low emissions steelmaking, particularly given the rising carbon taxes and elevated energy costs. Cyclone Metals, with its commitment to sustainability, stands at the forefront of providing solutions for environmentally conscious steel production.
The successful production of a world-class DR magnetite concentrate not only elevates Cyclone Metals' standing in the industry but also serves as a testament to its dedication to innovation and excellence. The addition of a reverse flotation step not only enhanced the iron content but also demonstrated the company's ability to define and calibrate optimal process flow sheets for future endeavors.
The journey doesn't end here for Cyclone Metals. The company is set to commence production of bulk BF and DR magnetite concentrates using an industrial-grade pilot plant. This forward momentum aligns with Cyclone Metals' commitment to achieving its key operational milestones, as outlined in its Strategy on a Page (SOAP) for 2023.
Cyclone Metals' success in producing a world-class DR magnetite concentrate underscores its position as a leader in the mining industry. The innovative use of metallurgical processes, particularly the addition of a reverse flotation step, has propelled the company to achieve remarkable milestones. As Cyclone Metals forges ahead with its Iron Bear project, the mining landscape anticipates further groundbreaking developments from this trailblazing company.