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Iron Bear Resources Ltd (ASX:IBR)

ALERT: Price-sensitive ASX Announcement for IBR
Current share price for IBR : $0.046 -0.032 (-41.03%)+
Announcement
Release
24 Jun 2026 9:36AM
Price at Release
$0.078
Full Release
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Summary
Iron Bear Resources Ltd, an Australian Securities Exchange-listed company, has confirmed the receipt of a USD$2 million funding tranche from Vale S.A. This is part of a larger USD 138 million development agreement to advance the Iron Bear Project in Canada. The project, which holds substantial JORC 2012 compliant Mineral Resources, focuses on producing high-grade direct reduction iron concentrate. The recent funding will aid in upcoming drilling and the completion of a Pre-Feasibility Study. The Iron Bear Project benefits from its proximity to essential infrastructure, enhancing its strategic value. The company also has exploration assets in New Zealand and Western Australia.
Key Points
  • Vale S.A. has provided a USD$2 million funding tranche to Iron Bear Resources Ltd for Project Iron Bear.
  • This funding is part of a binding development agreement with Vale, which totals USD 138 million across two phases.
  • Iron Bear Resources Ltd holds a JORC 2012 compliant Mineral Resource of 13.6 billion tonnes at 30% Fe at the Iron Bear Project.
  • The Iron Bear Project is strategically located less than 35km from a heavy haul railway linked to an export port in Canada.
  • The project aims to produce high-grade DR concentrate with 71% Fe and low impurities for high-quality steel production.
  • Vale's contribution aims to support operational progress, including a drilling campaign and Pre-Feasibility Study completion.
  • Iron Bear Resources Ltd is an ASX-listed company focused on large-scale iron ore project development and exploration assets.
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.