Polaris iron project to cost AUD 130 million

July 30th (Steel Guru) – It is reported that a pre feasibility study for West Perth based Polaris Metals’ Carina deposit has valued initial capital costs at between AUD 120 to AUD 130 million.

Polaris in an announcement said that it would make a formal decision on that recommendation once it completed studies of the preferred option for rail and port infrastructure by the end of 2008. It hopes to have two reverse core drilling rigs and one diamond rig on the site by August 2008, with work on flora and fauna studies also ongoing.