Venture Minerals iron ore Mine to produce 80-100 jobs!
Explore Councils by state
The West Coast is set to get a new iron ore mine despite a recent price slump.
Venture Minerals' Riley mine near Tullah is expected to create 80-100 jobs.
Venture announced the go-ahead to the market after completion of an updated mining study.
"We look forward to commencing production shortly," managing director Andrew Radonjic said on Thursday,
"This is an exciting phase for the company as it moves from explorer to producer.
"The Riley iron ore mining study demonstrates the delivery of an exceptional internal rate of return in excess of 300 per cent is possible by leveraging the relatively small capex required to commence production."
Venture said it was targeting its first ore shipment in the December quarter.
While you're with us, did you know that you can now sign up to receive breaking news updates and daily headlines direct to your inbox? Sign up here.