Name of the Project
Iron Ridge iron project.

Location
The project is located 490 km from the Port of Geraldton, in Western Australia.

Project Owner/s
Fenix Resources.

Project Description
A feasibility study on Iron Ridge has confirmed a high-grade and high-quality project that provides strong returns over its six-and-a-half-year life-of-mine.

The feasibility study includes a maiden ore reserve of 7.76-million tonnes at 63.9% iron.

This underpins forecast production of 1.25-million tonnes a year.

The mine will comprise a single openpit operation using a conventional excavator-truck mining fleet, adopting 10 m benches and mining these benches in three flitches.

Ore and waste will be hauled to the run-of-mine pad and waste dump respectively by a fleet of 100 t haul trucks. Drill-and-blast will be conducted using a top-hammer drill rig and ammonium nitrate fuel oil (ANFO) or heavy ANFO explosives.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 10% discount rate, of A$54.3-million and an internal rate of return of 58.9%.

Capital Expenditure
The project has an initial capital cost of $11.5-million.

Planned Start/End Date
The expected period from project approval to first sales is four months.

Latest Developments
None stated.

Key Contracts and Suppliers
M2A Partners/Thurlestone Shipping (marketing and shipping); CSA Global (resource estimation); Mining Plus (mine design and schedules); Peter O’Bryan & Associates (geotechnical assessment); Rockwater (hydrological assessment and modelling); ALS/Nagrom/CSIRO (metallurgical testwork); METS Engineering (metallurgical assessment); HFC Mining (engineering); Fenix Newhaul (road transport logistics); and MACA (mining operations).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Fenix Resources, tel +61 8 9486 4036 or email info@fenixresources.com.