Hawsons Iron has engaged Citigroup Global Markets Australia (Citi) as a strategic advisor to assist it in assessing strategic partnering opportunities, including offtake partnerships, for its Hawsons Iron project in New South Wales.
Hawsons managing director Bryan Granzien said Citi’s global network, corporate relationships and experienced team would deliver significant value as the company moved towards completion of its bankable feasibility study (BFS) in December.
“Our plan to produce high-grade magnetite concentrate represents a unique environmental, social, governance (ESG) opportunity to play an important role to decarbonise the global steel industry, within which Citi has strong client relationships,” he said.
“To ensure overall success in (the) funding and development of the Hawsons Iron project we believe it will be vitally important for all strategic partnering discussions to be funnelled through Citi as the single channel to manage third party interest.”
International interest is continuing to grow in Hawsons and its flagship project as the global ‘green steel’ narrative intensifies and higher-grade products are preferred.
At 70 per cent iron (Fe), the Hawsons Supergrade product is poised to be one of the highest-grade Fe products on the seaborne market and will become more and more important as steelmakers attempt to drive down their CO2 emissions.
“We’re in ongoing discussions with several potential Hawsons Supergrade product offtakers regarding letters of intent and with a number of parties also interested in potential strategic opportunities to invest either directly in the company or the project,” Granzien said.
“Citi’s role will include managing this process and assisting the company to determine the right time to execute any agreements to maximise value for shareholders.”
Citi’s highly experienced global metals and mining network includes dedicated corporate advisors in all relevant jurisdictions including Australia, the Middle East, UK, Canada, Korea, India, Japan and China.
Hawsons Iron has also received the endorsement of the South Australian Government as an ‘Impact Assessed’ major project, paving the way for the company to lodge a formal development application to be assessed by the State Planning Commission.
This will assist Hawsons Iron in preparing its Environmental Impact Statement (EIS).
It comes after the Federal Government renewed Hawsons Iron’s major project status in April, while the NSW Government has also declared the project a State Significant Development.