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CANBERRA (Scrap Monster): Proto Resources & Investments Ltd (ASX:PRW) is preparing plans to re-open Australia's first iron ore mine as part of the Barnes Hill mining project development. The Barnes Hill development has an iron ore cap that sits on top of part of the nickel laterite ore body. Following scoping work, Proto now intends to mine both the ironstone and nickel laterite.

Part of the area of Australia’s first iron ore mine, discovered in 1804, would be re-opened under plans being developed by Proto. Confirmation of upgrading grade and recovery, and of market inputs to support an independently calculated JORC-compliant iron ore resource are currently being assessed.

Iron ore production at Barnes Hill will greatly increase the overall operating cash flow previously assessed for the nickel-cobalt resource that has been defined at Barnes Hill, which is already the subject of the 500,000 tonnes per annum feasibility study due to be delivered in the next quarter.