A Tasmanian iron ore mining company has been given the green light for its flagship project, as it receives environmental approval.
Forward Mining announced in a statement this week that it had been given federal environmental approval for its Rogetta Project.
The Rogetta Iron Ore Mine is located south of Burnie in Northern Tasmania. As an open cut mine, Forward Mining is anticipating a production rate of 1 million tonnes of iron ore per annum over a seven-year life of mine.
Following the approval, Forward will progress with the development of the mine and will seek out construction companies for tender.
Forward is anticipating a 12 month build period, with a 2020 production date targeted.
According the Advocate, the Federal Environment Minister Josh Frydenberg pointed to the economic benefits that the mine will bring, with a projected $90-$100 million per year expected in export revenues.
The project will also generate in excess of 100 jobs for local contractors and employees.
Forward Mining chairman and chief executive Geoff Summers told the Advocare it would be the biggest new mine in Tasmania in 50 years.
“Now that all approvals are in place, we will proceed to final design work on the mill and expect tenders for construction to be let by the end of this year.”
“We anticipate it will be a 12-month build and we plan to be in production in about 2020.
“We already have mineral resources to operate the mine for eight years and we are about to embark on another estimated $10 million exploration/drilling program which we are confident will extend the mine life to about 30 years.”