Cyclone Metals completes preliminary study for Iron Bear Project in Canada

The Australian mining company Cyclone Metals has completed a preliminary study for the Iron Bear project in Canada, identifying extraordinary fundamentals and highlighting one of the world's largest and highest quality undeveloped iron ore resources. With colossal iron ore reserves of 16.66 billion tons with an iron content of 29.3 percent, the project combines enormous scale, premium product potential and a reliable 18-year mine life - all while using less than nine percent of the total resource base.

Cyclone Metals aims to produce 25 million tons of high-value iron ore products per year, including 16 million tons of blast furnace magnetite concentrate and 9 million tons of direct reduction pellets (DR).

Tests conducted by the leading Canadian Corem research center have confirmed that Iron Bear products exceed industry standards. The Fe content in the blast furnace concentrate of 69.8 percent is much higher than the world standard, while the pellets of the DR class provide exceptional metallurgical characteristics with a cold grinding strength of 346 kg, excellent reducibility and high metallization.

The preliminary feasibility study of mining operations will begin soon and should be completed by the second quarter of 2026.