Name of the Project
Kamistiatusset (Kami) iron-ore project.

Location
Western Labrador, Canada.

Project Owner/s
Kami Mine Limited Partnership (Kami LP), a joint venture between Alderon Iron Ore (75%) and HBIS (25%).

Project Description
The updated feasibility study on the Rose deposit of the Kami project, completed in September 2018, has demonstrated the strong economics of the project, which will produce a premium-quality iron-ore concentrate with higher iron content and ultralow impurities relative to the 62%-iron grade benchmark.

The project hosts proven and probable reserves of 517.2-million tonnes grading 28.8% total iron.

The project will produce 7.84-million tonnes a year of 65.2% iron concentrate over a 23-year mine life.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of $1.70-billion and an internal rate of return of 24.6%, with a payback of four years.

Project Owner/s
The total estimated capital cost of the project is $982.41-million.

Planned Start /End Date
The project will take 26 months to construct.

Latest Developments
Kami LP has entered into a memorandum of understanding (MoU) with digital energy management and automation firm Schneider Electric to transform the Kami mine into a fully digital mine.

The aim of the partnership with Schneider is to reduce the capital spending and equipment cost targets from the September 2018 updated feasibility study and that it will accelerate the project schedule.

Schneider has stated that the solutions proposed for the Kami project will help create a digitally integrated mine by implementing Schneider Electric's EcoStruxure systems at every level. These connected Internet of Things solutions, such as plant process performance, power and maintenance adviser systems, can assist in achieving a safe, efficient and reliable operation through ongoing process monitoring and proactive system troubleshooting.

Key Contracts and Suppliers
Envest (equipment management and acquisition) and Schneider Electric (power infrastructure).

On Budget and on Time?
Too early to state.

Contact Details for Project Information
Alderon Iron Ore, tel +1 604 681 8030 or email info@alderonironore.com.