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Mount Gibson gets nod for T1 development

17th July 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Iron-ore miner Mount Gibson Iron was expecting first production from its T1 deposit, at the Tallering Peak iron-ore mine, in Western Australia, by September this year.

The company made the announcement on Wednesday after the state government granted key approvals that allowed for mining at the T1 deposit, some 6 km from the main T6 pit.

Final clearance permits were expected shortly, and on-site work would would start soon after.

Production at T1 was expected to conclude by mid-2014, and the operation was expected to lift Mount Gibson’s total ore sales to some 2.5-million tonnes in 2014, including some 700 000 t of stockpiled lower-grade ore.

CEO Jim Beyer said on Tuesday that developing the T1 deposit further demonstrated the company’s commitment to extract maximum value from its existing operations, while also focusing on long-term growth.

“Exploiting the T1 deposit will deliver additional value to Mount Gibson from what has already been a highly successful investment, since production at Tallering Peak started in late 2003.”

Beyer noted that it also demonstrated Mount Gibson’s ongoing commitment to the Mid West region, where the company has invested significantly in export capacity and was targeting opportunities that would complement its Extension Hill hematite operation.

The T1 deposit has an indicated and inferred resource of some 1.4-million tons, grading 60.4% iron, and an ore reserve of 801 000 t, grading 61% iron.

Edited by Creamer Media Reporter

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