• Maiden Probable Ore Reserve of 3.3 Bt at 29.1% Fe
• 23 Mtpa production target with high-grade iron ore products
• Premium-grade products with ultra-low deleterious elements
• Low 0.44 stripping ratio and renewable hydropower
• Strong financial metrics with NPV8% USD 9.0B

Iron Bear Resources Limited (ASX:IBR) has announced outstanding results from the Pre-Feasibility Study (PFS) for its Iron Bear Project. The PFS reveals a Maiden Probable Ore Reserve of 3.3 billion tonnes at 29.1% Fe, supporting a production target of 23 million tonnes per annum (Mtpa) of high-grade iron ore products for 44 years. The project will produce 4.5 Mtpa of Blast Furnace Concentrate and 18.4 Mtpa of Direct Reduction Pellets. The project's premium-grade products, with ultra-low deleterious elements, are expected to command premium pricing. The project benefits from a low 0.44 stripping ratio and 100% renewable hydropower, resulting in low operating costs and environmental footprint. Financial metrics are robust, with a Net Present Value (NPV8%) of USD 9.0 billion and Internal Rate of Return (IRR) of 15.2%. The project is supported by a Development Agreement with Vale, which provides up to USD 138 million for Decision To Mine (DTM) and a potential 75% equity stake in the project.

NPV8% USD 9.0 billion, IRR 15.2%, CAPEX USD 4.2 billion

The Iron Bear Project is poised to deliver high-value, sustainable iron ore products, with strong demand and premium pricing expected in the global market.