The re-evaluation of the ore reserves with the help of several computer programs, the development of a process flowsheet in the light of new technologies, the prepartion of the new pre-exploitation program and locating a new plant site are main points established in this project. According to the overall results, the Hasancelebi iron ore deposit has 3.2 billion tons of geological reserve and the eastern ore body subjected to the new plant possesses 94 million tons of exploitable reserve and therefore has an important place as a mining site in our country. 7.5 million tons per year ROM ore and 1.5 million tons per year pellet production containing 69% Fe with a 83% Fe3O4 recovery basis were set up during 14 years mine activity. Total investment cost is calculated to be around 145 million US dollar with the consideration of the need for 183 employment positions. The results obtained from this study for the Hasancelebi iron ore deposit indicate positive signs for the implementation of this investment project. However, it can be concluded that final feasibility and final evaluation must begin without any delay.