“High iron ore prices in early 2021 are unsustainable, but market fundamentals remain strong," says Moody’s senior VP Barbara Mattos.

"The new Bateman mill will also accelerate our ability to achieve our objective of producing more than 300,000 oz. per year of gold from Red Lake," says Evolution executive chair Jake Klein.

The Junior Minerals Exploration Incentive converts tax losses into exploration credits for investors and provides a tax offset for junior mining companies.

The growth with be possible as new projects come on-stream, GlobalData says.