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Iron Bear Resources Ltd (ASX:IBR)

ALERT: Price-sensitive ASX Announcement for IBR
Current share price for IBR : $0.066 0.008 (13.79%)+
Announcement
Release
17 Jun 2026 9:10AM
Price at Release
$0.058
Full Release
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Summary
Iron Bear Resources Ltd is advancing a significant iron ore project in Canada in partnership with Vale S.A. The project, which boasts a JORC compliant mineral resource of 13.6 billion tonnes, has undergone comprehensive studies, including a scoping study that indicates robust economics. Vale S.A. supports the project with up to USD 138 million in funding under a development agreement. Located near Schefferville, the site benefits from existing infrastructure and access to low-cost hydroelectric power. The project's strategic plan focuses on de-risking and aims to capture a substantial share of the growing Direct Reduction iron ore market by 2035.
Key Points
  • Iron Bear Resources Ltd is developing a world-class iron ore project in Canada with Vale S.A.
  • The project includes a JORC compliant mineral resource of 13.6 billion tonnes.
  • Completed a scoping study in August 2025 with favorable economics.
  • A development agreement with Vale S.A. provides up to USD 138 million in funding.
  • The project is located 35 km northwest of Schefferville, Canada, and has access to infrastructure and low-cost hydroelectric power.
  • Production targets include 25Mta with BF concentrate and DR pellets.
  • The joint venture aims to dominate the Direct Reduction iron ore market, expected to grow significantly by 2035.
  • The Iron Bear project has undergone extensive drilling and feasibility studies.
  • The project is supported by a strategic plan to de-risk and achieve a decision to mine within 3 to 4 years.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.