Venture Minerals Limited on Wednesday said its board had decided to go ahead with the Riley iron ore mine, near Tullah.

"The board has given the go-ahead to proceed with the dry screening operations, reaching another important milestone as the Riley Mine ramps up towards full-scale production," managing director Andrew Radonjic said.

"The Riley Project continues to deliver more exciting news for shareholders and the state of Tasmania in a strong iron ore price environment.

"The Riley Iron Ore Mine will create close to 100 jobs and will be a boost for the economy of the West Coast of Tasmania during these difficult times."

The mine is opposed by the environmentalist Bob Brown Foundation.

It signalled on Wednesday the "destructive and unnecessary project" would not proceed without a fight.

"This unlawful project is being shepherded through by the EPA and the federal Environment Minister despite the expiration of permits", Bob Brown Foundation takayna/Tarkine campaigner Scott Jordan said.

"We call on the Minister and the director of the EPA to immediately act to prevent this action."

The foundation said was considering options to oppose it.

Mr Radonjic on Tuesday said Venture was in compliance with all its regulatory obligations.

The mine was delayed for years, partly due to environmentalist opposition.

It was close to a production in 2014, but the project was put on hold when iron ore prices crashed.

Venture said the Riley mining team had started preparations for low-cost mining and dry screening activities involving iron ore at the surface.

"The contracting of a dry screening plant for processing the top layer of the Riley deposit affords the company the opportunity to accelerate production and capture the current iron ore prices before the wet screening plant has been built and commissioned, and also reducing the capital cost requirements," it said.

It said dry screening operations were part of the ramp-up phase.

Venture said the mine would reach its full production rate once the wet screening plant was built and commissioned.

That was subject to financing.

The company said it was focusing on finalising discussions on financing the wet screening plant.

Venture said the current Riley economics were well above the August 2019 feasibility study numbers.

On those numbers, Venture said, Riley would have a post-tax cash surplus of $31 million over a two-year production life, "including fully providing for progressive and post-production rehabilitation".