The Hawsons Iron Ltd (ASX: HIO) share price has been hovering between 38 to 40 cents a share today.
At the time of writing, the Hawsons share price is 1.32% higher at 38.5 cents
In broader market moves, the S&P/ASX 200 Materials Index (ASX: XMJ) is one of the market's leading sectors today, 1.68% higher at the time of writing.
Returns for the Hawsons share price over these past 12 months are seen below.
Image source: Getty Images
What's up with the Hawsons share price?
Although it's been a busy day on the ASX today, there's been nothing price sensitive about Hawsons to comment on.
However, the company posted an announcement advising that the South Australian government has declared the Hawsons Iron Project an Impact Assessed major project.
The Hawsons Iron Project site is located about 60 kilometres southwest of Broken Hill, on the South Australian border.
The update makes the site "subject to a state-run process and determination of assessment requirements towards Environmental Impact Statement (EIS) obligations," the company said.
The declaration follows a federal government decision to renew the project's status as a "major project" for three or more years back in April.
Not only that, but the announcement notes the NSW Department of Planning and Environment has also declared the project a "State Significant Development".
Hawsons says the declaration reflects the Hawsons Iron Project's importance to green steel supply in South Australia.
Commenting on the update, Hawson's managing director Bryan Granzien echoed this optimism.
[T]his declaration reflects the importance and scale of the Hawsons Iron Project within South Australia and potential as the global steel industry aggressively pursues pathways to decarbonise.
Zooming out, the share price activity today extends a volatile period for the company this past month or so.
On 17 August, Hawsons saw heavy selling activity following legal action filed against it by battery metals exploration company Pure Metals. Hawsons noted the allegations to be "entirely baseless and without any foundation".
The Hawsons share price has faltered from 52-week highs of 88.5 cents on 2 May 2022.
Still, in the last 12 months, the Hawsons share price has soared more than 352% and is up more than 150% this year to date.
