australia's identified mineral resources 2005 - Geoscience Australia
australia's identified mineral resources 2005 - Geoscience Australia
australia's identified mineral resources 2005 - Geoscience Australia
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AUSTRALIA’S IDENTIFIED MINERAL RESOURCES <strong>2005</strong><br />
Mt Gibson. Western <strong>Australia</strong> has just under 90% of <strong>Australia</strong>’s total <strong>identified</strong> <strong>resources</strong> of iron ore<br />
with over 80% occurring in the Pilbara district.<br />
Accessible EDR<br />
Almost all EDR is accessible except for the remaining resource at Orebody 23 (18 Mt) in the Newman<br />
District and 30% of the Windarling resource, which have both been quarantined for environmental<br />
reasons. The resource life of the accessible EDR of 14.6 Gt is around 65 years.<br />
JORC Reserves<br />
Over 30% of accessible EDR, or 4.6 Gt, is JORC compliant. The resource life of accessible JORC<br />
reserves is about 20 years. Around 30% of EDR is in the JORC reserves category.<br />
Exploration Expenditure<br />
ABS data indicate that exploration expenditure for iron ore in 2004 totalled $97.9 million, an increase<br />
of over 85% from $52.1 million in 2003. Detailed data on spending are not available from ABS but<br />
most is likely to have been spent in Western <strong>Australia</strong>.<br />
Production<br />
ABARE reported that <strong>Australia</strong>’s iron ore production in 2004 was 231.0 Mt (212.9 Mt in 2003) with<br />
97% produced in Western <strong>Australia</strong>. The remaining production came mainly from South <strong>Australia</strong> and<br />
Tasmania. Exports in 2004 totalled 210.3 Mt (187.3 Mt in 2003) with a value of $6 073 million. ABARE<br />
has projected that <strong>Australia</strong>’s iron ore production will reach 341 Mt in 2009–10.<br />
World Ranking<br />
<strong>Australia</strong> has some 9% of world EDR of iron ore and is ranked fifth after Ukraine (19%), Russia<br />
(16%), China (13%) and Brazil (13%). In terms of contained iron, <strong>Australia</strong> has about 11% of the<br />
world’s EDR and is ranked fourth behind Russia (18%), Brazil (18%) and Ukraine (11%).<br />
<strong>Australia</strong> produces around 18% of the world’s iron ore and is ranked third behind China (22%)<br />
and Brazil (18%).<br />
Industry Developments<br />
WESTERN AUSTRALIA<br />
Hamersley Iron (100% Rio Tinto): Eastern Range mine was officially opened in April 2004. Under<br />
the terms of the joint venture agreement between Hamersley Iron and Baosteel Group 200 Mt of<br />
iron ore will be supplied at 10 Mtpa over 20 years. The capacity of the Yandicoogina mine is being<br />
expanded from 24 to 36 Mtpa at a cost of US$200 million. Completion is scheduled for early <strong>2005</strong><br />
and pre-feasibility studies are being undertaken into further expansion. Feasibility studies are<br />
progressing on expansion of production at Tom Price and Marandoo and mining the Nammuldi<br />
and Brockman No 4 deposits.<br />
40<br />
Expansion of the Port of Dampier from 76 to 116 Mtpa commenced in early 2004 with completion<br />
scheduled for late <strong>2005</strong>. Stage 1 work will expand port capacity to 95 Mtpa and focus on Parker<br />
Point. Included in the expansion program is a new gas-fired power plant at Paraburdoo and a<br />
95 km rail line duplication. After six years of negotiation the Eastern Guruma Indigenous Land Use<br />
Agreement was registered in March 2004. Hamersley Iron will contribute to a Trust and provide a<br />
range of long term community benefits to Aboriginals with traditional ties to the area.<br />
Robe River Associates (53% Rio Tinto): At West Angelas mine, Marra Mamba ore production began<br />
in April 2002 at a rate of 7 Mtpa and by 2004 capacity reached 20 Mtpa. Construction of an expansion<br />
to 25 Mtpa commenced in early 2004 and is expected to be completed by mid-<strong>2005</strong>. Project teams<br />
have been assembled to study options for significant expansion of Robe River’s production capacity,<br />
including an expansion at Cape Lambert beyond the current 55 Mtpa. The Pilbara Iron company was