Name of the Project
Marillana iron-ore project.

Location
Pilbara, Australia.

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

As part of MIN’s 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
Initial development work is expected to cost about A$105-million.

Planned Start/End Date
The current development timeframe is estimated at about 42 months from the formation of the JV.

Latest Developments
BCK and MIN will officially form a JV for the Marillana iron-ore project to progress it towards development.

MIN’s farm-in obligations, through its subsidiary Polaris, have now been completed, with 50% of the Marillana project now being transferred to Polaris.

BCK and MIN have also agreed that BKM’s Ophthalmia project will be included in the JV, with 50% of this project being transferred to Polaris.

MIN will immediately start initial development works at the Marillana and Ophthalmia mine sites, as well as on the prospective transport corridor and port area.

The immediate start of the initial development work will accelerate the development timeframe of both projects.

Key Contracts, Suppliers and Consultants
None stated.

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