OREGON IRON ORE-GOLD MINING JV: PVRE and JV partners have applied to the Oregon Governor, for a 500 square mile exploration-mining lease containing potentially vast offshore iron-sands, with chromite and gold-platinum credits.
Geological models suggest that the lease application area could contain a billion tons of high-grade iron-chromite-precious metals resources located in near-shore, easily accessed oceanic placers, with the lowest lifting costs of any iron ore.
Iron sands and associated minerals are now very valuable commodities. The increasing prices of iron ore, chromite, rare earths and gold, coupled with new higher-powered ocean-going suction dredge technology has opened up the possibility of profitably mining the vast Oregon near-shore deposits.
Shallow ocean placer mining is an established, low environmental impact worldwide mining activity. PVRE’s proposed dredge miners could cost around 80% less per unit of iron-ore output than onshore iron ore mines. PVRE is a 10% JV partner in the Oregon project and additional Iron-Gold-Sands lease applications, now in preparation.