Monax Mining secures government funding for Australian iron oxide project

By Kasia Patel
Published: Wednesday, 15 April 2015

The company is in the process of developing three projects in South Australia, one of which is the Punt Hill iron oxide copper-gold project. Government funding of A$75,000 for the project highlights its potential in becoming a new source of iron oxide in Australia, which last year increased its imports of the mineral. In other iron oxide news, major natural iron oxide producer LKAB is looking to expand its supply to meet growing demand.

ASX-listed exploration company Monax Mining Ltd has secured state government funding for three of its projects in South Australia (SA), including its Punt Hill iron oxide copper-gold project.

Under the SA government’s accelerated exploration (PACE) initiative the company received its full application of Australian (A) $70,000 ($53,283*) for its Kimberlite...

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