Annual Report
Perth, Mar 28, 2024 AEST (ABN Newswire) - During 2023 Arrow Minerals Ltd (
ASX:AMD) continued the Company's strategic focus on delivering long-term value to shareholders through the discovery and development of economic mineral deposits in West Africa.
The primary focus during the period was the Simandou North Iron Project where the Company is earning up to 100% through various expenditure and development milestones as announced to ASX on 13 July 2022 and 30 August 2023.
The Company was drawn to the project by the highly prospective nature of the geology combined with the pending completion of the multi-user railway linking the Simandou Iron Project (under development by Winning/Simfer(RIO/Chalco) with the Morebaya Port.
The combined investment by all the parties totalling USD $27Bn in port, rail and mine, make this the largest mining project under development in Africa and the largest high grade iron ore project in the world. The Company sees substantial opportunity for shareholder value delivered by both access to shared infrastructure and the prospectivity for economic iron ore. JV participant Rio Tinto has advised the railway will be commissioned during calendar year 2025.
The Simandou North Iron Project is located immediately to the north of the Simandou Iron Project, the largest undeveloped high grade iron ore project comprising combined resources and reserves of 4.6Bn at 65% Fe.
The Company is focused on the timely advancement of the Simandou North Iron Project, which is located approximately 15 kilometres north of the Winning Consortium, high grade iron deposit (1.8Bnt at 65% Fe) and just 25 kilometres from the multi-user railway.
*To view the Annual Report, please visit:
https://abnnewswire.net/lnk/172V7X9W
About Arrow Minerals Ltd
Arrow Minerals Ltd (ASX:AMD) is an exploration and development company focused on delivering long-term shareholder value through the discovery of economic mineral deposits in West Africa. The Company has implemented a systematic science-based exploration philosophy whilst remaining commercially nimble to ensure we capture and retain value.
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