Northwire Canada EditionTuesday, August 18, 2026
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Rockex Mining talks up Lake St. Joseph iron project

By The Northwire Desk — AI Analysis Feb 18, 2026 · 09:46 RXM · 0.03 Rockex Mining Corp
RXM · Price

Executive Summary

  • Rockex Mining Corp. issued a corporate update highlighting the strategic relevance of its 100 % owned Lake St. Joseph iron project amid growing demand for high‑quality iron units to support Ontario’s electric arc furnace (EAF) steelmaking transition.
  • The company re‑engages potential strategic partners and stakeholders, inviting interest in next‑step de‑risking work required to move the project toward development.
  • The update restates the 2015 Preliminary Economic Assessment (PEA) figures: indicated resource of 1,287 Mt @ 28.39 % Fe, inferred resource of 108 Mt @ 31.03 % Fe, projected production of 4.3 Mt/yr HBI over a 30‑year mine life, and pretax NPV of ≈ US$9.42 bn (after‑tax NPV ≈ US$6.85 bn) at a US$350/tonne HBI price assumption.

Key Details

  • Project Positioning: Rockex emphasizes that global market trends, evolving steelmaking requirements, and Canadian government priorities on domestic supply chains create a constructive backdrop for the Lake St. Joseph project.
  • Strategic Call‑out: CEO Pierre Gagne invites “strategic partners, end‑users, and other stakeholders” to assess interest in advancing domestic iron production and strengthening Canadian industrial supply chains.
  • Resource Summary:
  • Indicated mineral resource – 1,287 million tonnes at 28.39 % Fe.
  • Inferred mineral resource – 108 million tonnes at 31.03 % Fe.
  • PEA Highlights (2015):
  • Production target – 4.3 million tonnes per year of hot‑briquetted iron (HBI).
  • Mine life – 30 years.
  • Pretax NPV – US$9.42 billion at a 6 % discount rate.
  • After‑tax NPV – US$6.85 billion at a 6 % discount rate.
  • HBI price assumption used in the PEA – US$350 per tonne.
  • Current Status: Project remains at the PEA stage; Rockex is seeking to re‑engage partners for de‑risking and potential development pathways.
  • Qualified Person: James G. Clark, P.Geo (Ontario), independent qualified person under NI 43‑101, reviewed and approved the scientific and technical contents of the release.

Notable Quotes

“We invite interest from strategic partners, end‑users, and other stakeholders aligned with advancing domestic iron units and strengthening Canadian industrial supply chains,” – Pierre Gagne, CEO, Rockex Mining Corp.

The release contains no forward‑looking safe‑harbor language beyond standard disclaimer references.

Read the original news release →