australia's identified mineral resources 2005 - Geoscience Australia

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AUSTRALIA’S IDENTIFIED MINERAL RESOURCES 2005 Crushing plant at Tallering Peak iron ore mine northeast of Geraldton, Western Australia (Mount Gibson Iron Ltd). Aztec Resources Ltd: An $8 million bankable feasibility study to be completed in early 2005 is evaluating the recommencement of mining on Koolan Island, 130 km northwest of Derby. Mining is proposed to commence by mid-2006 with an initial capacity of 2 Mtpa over 15 years. The project includes a new shiploader and jetty to accommodate Cape size vessels (up to 190 000 t). Hope Downs Management Services (includes Hancock Prospecting): The $1.65 billion Hope Downs project involves mine construction, 370 km of rail line and infrastructure at Port Hedland. The mine will be based on the Hope Downs 1 Marra Mamba deposit 100 km northwest of Newman and production is planned to commence in 2007 at a rate of 5 Mtpa and increase to 25 Mtpa within five years. 42 Fortescue Mining Group Ltd (FMG): Up to seven drilling rigs operated in the Chichester Range delineating iron ore resources during 2004. A definitive feasibility study of the Chichester Range resources is due for completion in early 2005. FMG is proposing to spend $1.85 billion to construct a mine, 520 km of multi-user railway to Port Hedland and multi-user port facilities. Construction of a 45 Mtpa operation is proposed to commence in mid-2005 and be completed in early 2007. In late 2004 the Australian Government granted Major Project Facilitation status to FMG’s Pilbara Iron Ore and Infrastructure Project. Midwest Corporation Ltd: Plan to ship 1.1 Mt of existing hematite iron ore fines from Koolanooka over 14 months from late 2005. The $16 million capital cost includes a storage shed at Geraldton, rail wagons and siding, construction and upgrading of haul roads and site infrastructure. Midwest is also planning to recommence mining at Koolanooka and Blue Hills at a rate of 1 Mtpa over three years. A scoping study is due for completion in 2005 on the proposed Koolanooka magnetite project. A pre-feasibility study is to be completed to determine the viability of the proposed Weld Range direct shipping of hematite ore project. Grange Resources Ltd: A Scoping study on the Southdown magnetite deposit determined that ore could be mined at a rate of 17.8 Mtpa and a magnetic separation plant produce 6.5 Mtpa of concentrates at 69% Fe. The concentrate could then be transported to Albany in a slurry pipeline
AUSTRALIA’S IDENTIFIED MINERAL RESOURCES 2005 and then exported to a pellet plant in southeast Asia. A bankable feasibility study commenced in late 2004 and is expected to take about 12 months to complete. If the $400 million project proves viable construction could commence in 2006 with exports commencing in 2008. Mineralogy Pty Ltd: The $1.8 billion Fortescue iron ore project consists of a mine based on the George Palmer deposit, a pellet plant and a port at Cape Preston. Mineralogy is proposing to produce 5 Mtpa of concentrate and 5 Mtpa of pellets over 25 years. Construction is planned to start in 2005 with the first shipments to start by late 2007. Murchison Metals Ltd: The $14.5 million Jack Hills iron ore project is scheduled to commence in late 2005 at a rate of 1.0 Mtpa. Direct shipping grade ore will be trucked by road trains 580 km to the Port of Geraldton for export. A second stage consists of a 15 to 20 Mtpa operation and includes the construction of railway and port infrastructure at a cost of $400 to $500 million. Gindalbie Gold Ltd: A scoping study is due for completion in early 2005 on the Mt Karara magnetite deposit. The deposit could potentially support a 2 Mtpa magnetite concentrate operation over 20 years. Resource Mining Corporation: The company is seeking to prove sufficient reserves at the Argyle iron ore deposit (previously known as Pompeys Pillar) to sustain an operation of direct shipping ore that would be trucked 170 km to Wyndham for export. SOUTH AUSTRALIA, TASMANIA AND NORTHERN TERRITORY OneSteel Ltd: In August 2004, Onesteel announced the start of Project Magnet, which is planned to extend the life of the South Australian Whyalla operation from 2020 to at least 2027. The $250 million project will convert the Whyalla Steelworks to producing steel from magnetite rather than hematite. The project, which is scheduled to be completed in mid-2006, includes a mine cut back, magnetite concentrator, 62 km of slurry pipeline and conversion of the pellet plant. Iron ore and production will rise from 3 to 9.5 Mtpa and includes exports of 3 Mtpa of hematite and 320 ktpa of pellets. Ivanhoe Mines Ltd: At Savage River the North and Centre Pits commenced ore production. The South Pit ceased production in mid-2004 and work continued on an evaluation of an underground block cave operation in the North Pit. The open-pit mine is scheduled to reach the end of its life in 2007 with pellet production finishing in 2009. Territory Iron Ltd: The company is seeking to upgrade resources at Frances Creek to allow the development of an operation that would rail iron ore 200 km to Darwin for export. Industry Developments – Iron and Steel Operating and proposed Direct Reduced Iron (DRI) and steelworks in Australia include: ■ The Boodarie hot briquetted iron plant near Port Hedland. After an explosion in May 2004 the plant was placed on care and maintenance in November until its long term future is determined. ■ ■ Construction of the $420 million HIsmelt DRI processing plant at Kwinana was largely completed by the end of 2004 with commissioning due to commence in early 2005. The plant is designed to process 1.3 Mtpa of high phosphorous iron ore to produce 800 ktpa of 96% iron content pig iron. Pig iron production in blast furnaces at Port Kembla and Whyalla. 43 ■ Steel production at Port Kembla, Whyalla, Rooty Hill, Mayfield and Laverton North. ■ Compact Steel is planning a 1.4 Mtpa steel plant costing $1.5 billion at Rockingham in Western Australia. ■ Protech Steel is investigating a $600 million steel processing mill to produce mainly coated steel products in Newcastle. ■ Specialty Steels propose to construct a steel mini-mill capable of producing up to 260 000 tpa of stainless and specialty steel products in the Swanbank Enterprise Park near Ipswich.
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