Carpentaria Resources is increasing its ownership stake in the Hawsons Iron Project, a joint venture with Pure Metals that will produce Fe 70pc iron ore, to 94pc.
The $10mn market capitalization company plans to raise $1.1mn to further develop the site, which has access to core infrastructure in New South Wales, Australia, and make it more relevant to steelmakers seeking efficiency and to curb carbon emissions.
Carpentaria will spend the next six months attracting investors and key partners for project development, according to Peter Graham, the company’s chairman.