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Shree officially opens Nelson Bay River

31st October 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – ASX-listed Shree Minerals has officially opened its Nelson Bay River iron-ore mine, in Tasmania.

“This is a defining moment for the mining industry in Tasmania and truly a humbling experience for us at Shree Minerals,” said chairperson Sanjay Loyalka.

The Nelson Bay River project consists of an openpit magnetite and hematite mine, that would produce four-million tons a year of ore over a ten-year life-of-mine, to produce 150 000 t/y of product.

“The development works at the mine have progressed to a level to allow ore mining to commence over the next few days, with the first shipment of iron-ore expected in December this year,” Loyalka said.

He noted that with the Nelson Bay River direct shipping ore project starting production, Shree believed that the company was at an inflection point in its objective to create shareholder wealth.

“The development of Nelson Bay River at benchmark capital costs and time, despite the adverse climate, reinforces our core value of 'passion' to build a platform for growth,” Loyalka added.

Edited by Creamer Media Reporter

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