FairStar to spend $300 million to build mining operations at its Steeple Hill iron ore project
FairStar Resources (ASX:FAS) will spend $300 million to build a a mining operation at its Steeple Hill iron ore project in Western Australia.
The company, which made the announcement on Monday, plans to recover alluvial iron ore deposits in phase one of the project, followed by a drill and blast operation for hard rock hematite in phase two and the recovery of magnetite in phase three.
The company says it will not seek joint venture partners.