Hawsons pegs back project costs to ‘more realistic’ levels

Brisbane company Hawsons Iron said the 300 per cent cost blowout for its planned iron ore project in NSW had been brought back to near more realistic levels.

Jun 13, 2023, updated Jun 13, 2023
Hawsons iron ore project has hit headwinds. Image: Supplied

Hawsons iron ore project has hit headwinds. Image: Supplied

Executive chair Bryan Granzien said it had also found significant cost savings and promising drill results which would enhance the business case for the bankable feasibility study.

Granzien said a new mineral processing circuit had the potential to significantly lower the capital and operating costs while also delivering secondary revenues from the sale of ore sands.

“We will determine a preferred strategic pathway once we have validated the feasibility of the refined process design and assessed the laboratory results from the drilling samples,” Granzien said.

“This pathway could include a strategic investor to help fund a modified bankable feasibility study.”

Hawsons stalled the development of the mine last year when costs blew out and Granzien said the project could never have withstood the increases.

“Estimates now being received reflect more realistic figures which relate more closely to those provided in 2021 and 2022,” he said.

The project timeline has been delayed by a further three months because of the additional information for the feasibility study.

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