Nelson Bay River iron project, Tasmania
Name and Location
Nelson Bay River iron project, Tasmania.
Client
Shree Minerals.
Project Description
The Nelson Bay River project consists of an openpit magnetite and hematite mine that will produce four-million tonnes a year of ore over a ten-year life-of-mine to produce 150 000 t/y of product.
Value
Capital expenditure has been estimated at $4.5-million for the direct shipping ore phase and about $2-million for the beneficiable low-grade resource phase, with subsequent magnetite phases funded from internal accruals.
Duration
Ore mining started in October 2013.
Latest Developments
Shree Minerals officially opened its Nelson Bay River iron-ore mine on October 31.
Chairperson Sanjay Loyalka says the development works at the mine have progressed to a level that will allow for ore mining to start, with the first shipment of iron-ore expected in December this year.
With the Nelson Bay River direct shipping ore project starting production, Loyalka believes that the company is at an inflection point in its objective to create shareholder wealth.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
Shree Minerals, tel +61 8 6161 2068, fax +61 8 9385 5194 or email info@shreeminerals.com.
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