Vale Funds USD$2m for Iron Bear Project
Key points
- Vale paid fourth USD$2m funding tranche
- Total USD$16.7m contributed so far
- USD$1.3m tranche expected in July 2026
- Funds to support drilling and PFS completion
Full summary
Iron Bear Resources announced that Vale has provided a fourth funding tranche of USD$2 million to advance the Iron Bear iron ore project. This brings the total funding from Vale to USD$16.7 million. The final tranche of USD$1.3 million is expected in July 2026. The funding will support operational progress, including an upcoming drilling campaign and the completion of the Pre-Feasibility Study (PFS). Iron Bear holds a significant JORC 2012 compliant Mineral Resource of 13.6 billion tonnes at 30% Fe, located in Newfoundland and Labrador, Canada. Vale can contribute up to USD$138 million across two phases to earn a 75% interest in the project.
Guidance
Vale has contributed USD$16.7m so far, with USD$1.3m expected in July 2026.
Outlook
The funding will support the upcoming drilling campaign and the completion of the Pre-Feasibility Study (PFS).
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