Name of the Project
Marillana iron-ore project.

Location
Pilbara, Australia.

Project Owner/s
The project is a joint venture (JV) between Brockman Mining (BCK), subsidiary Brockman Iron, and Minerals Resources, through its subsidiary Polaris.

As part of Mineral Resources’ farm-in and JV agreement with Brockman Mining, it has the potential to earn a 50% interest in the Marillana iron-ore project.

Project Description
Marillana is the largest single deposit outside the control of the major iron-ore producers in the Pilbara. The project contains mineral resources of 1.51-billion tonnes, of which more than one-billion tonnes comprises Joint Ore Reserves Committee-compliant ore reserves. The resource will support a minimum 20-year mine life.

BCK and MRL plan to build a 20-million- to 30-million-tonne-a-year iron-ore mine, underpinned by MRL’s Pilbara infrastructure project comprising automated and integrated light rail, stockyard and berth facilities.

The project will produce a beneficiated grade of 60.5% to 61.5% iron.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Not stated.

Planned Start/End Date
Not stated.

Latest Developments
The JV between  Brockman Mining and Mineral Resources has been amended to extend the delivery of some development targets at the Marillana project by one year.

To acquire a 50% interest in the Marillana project, Mineral Resources will spend A$250 000 on exploration and development activities at the project tenements, complete the process design criteria for the processing plants, optimise the mine plan study and finalise mine development layout plans for the operation.

The JV partners have agreed that the farm-in obligation could take up to 12 months longer than initially planned and have agreed to extend two of the key dates under the JV agreement.

The start of construction of the rail and port system has now been extended from the end of December this year until the end of December 2020, while the start of operations for the rail and port system has also been extended from the end of 2021, to the end of 2022.

As a result, Mineral Resources and Brockman have also extended the time to satisfy the conditions precedent for the mine-to-ship agreement, signed in January this year, from December this year until December 2020.

The mine-to-ship logistics agreement will result in Mineral Resources constructing, commissioning and operating the rail, rolling stock and port infrastructure required to transport up to 30-million tonnes a year of iron-ore from the mine site to Port Hedland, and to load it onto vessels for export, over the life of the Marillana project.

The conditions precedent include Mineral Resources executing a state agreement with the Western Australian government, procuring all the leases and licences for the light rail system and port infrastructure, obtaining project finance to fund the construction and commissioning of the rail and port infrastructure, and the Mineral Resources board making a final investment decision to proceed.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Brockman Mining, tel +61 8 9389 3000 or email Inquiry@brockmanmining.com.
MRL, tel +61 8 9329 3600 or email reception@mineralresources.com.au.