An independent strategic review of Flinders Mines Ltd.'s Pilbara iron ore project in Western Australia estimated an optimal production rate of about 45 million tonnes per annum at 58% to 59% iron for a mine life of over 14 years.

The review, however, calls for a further understanding of mine planning and the metallurgy to confirm the ability of the mine to operate at an economic production rate.

The project also requires a commercially viable mine-to-port infrastructure, according to a March 31 release.

Flinders Executive Director David McAdam said the company will conduct an asset maturation phase, funded through an entitlements issue, before starting work on a feasibility study for the project.