Mining firm considers HBI project in Ontario

Toronto-based Rockex Mining Corp. says it has conducted a preliminary economic assessment (PEA) of its Lake St. Joseph hot briquetted iron (HBI) project in northwest Ontario.

The PEA studied the production of 4.3 million metric tons per year of HBI calculated at a total cost of production estimated at CA$135.35 ($102.57) per metric ton. The project entails an initial Investment of CA$3.77 billion ($2.86 billion), according to the firm. A news release summarizing the assessment can be found here.

“We are very pleased with the results of the updated PEA,” says Armando Plastino, CEO of Rockex. “This PEA is a critical valuation and marketing document that will give Rockex excellent positioning for hosting the first HBI plant in Canada, which we are confident will attract negotiations with a strategic partner."

An online article  from Northern Ontario Business says Rockex is working with the Danieli Group on the HBI production technology and that the company is seeking electric arc furnace (EAF) steelmakers that will be willing to purchase its HBI to supplement or replace part of their ferrous scrap feedstock.