Name of the Project
Savage River iron-ore project.

Location
North-west Tasmania, Australia.

Project Owner/s
Grange Resources.

Project Description
A definitive feasibility study (DFS) has demonstrated that an underground mine is technically and economically viable for the Savage River North Pit orebody.

A sublevel caving transition mine to recover ore left in the walls of the North Pit provides early access to ore and contingency production during the establishment and ramp-up of the block cave mine.

The DFS proposes the production of six- to seven-million tonnes of ore a year from the underground block cave mine, with a life-of-mine (LoM) of 15 years, using underground caving methods.

Total production of 90.2-million tonnes of ore is envisaged, returning a concentrate quality of more than 65% iron.

Total opencut and underground production is estimated at 40.8-million tonnes of magnetite concentrate over the LoM.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, of A$775-million and an internal rate of return of 34%, with a payback of 6.4 years from the start of development in 2025.

Capital Expenditure
Underground development and production capital of about A$891-million, with preproduction capital investment of about A$416-million supported by existing infrastructure.

Planned Start/End Date
Final board and regulatory approval for construction is expected towards the end of 2024.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Grange Resources, tel + 61 3 6430 0222 or email info@grangeresources.com.au.