Mount Woods magnetite project, Australia
Name and Location
Mount Woods magnetite project, Australia.
Client
IMX Resources.
Project Description
The Mount Woods magnetite project is located about 15 km south-west of IMX’s Cairn mine, near Cooper Pedy, in South Australia.
A scoping study completed on the project has confirmed it as economically attractive, lower risk and a feasible near-term development opportunity.
A 2.5-million-tonne-a-year base case option, exporting through Port Adelaide, provides a mine life of more than 25 years.
With an inferred resource base at the Snaefell deposit, at Mount Woods, of 569-million tonnes, grading 27.1% iron at a 18% iron cutoff grade, together with exploration targets of between 0.9-billion tonnes and 1.2-billion tonnes, ranging between 25% and 32% iron, at Tomahawk, Axehead and other prospects in the area, there is considerable scope to support a significantly larger operation than the base case.
Value
Total preproduction costs are estimated at $294.6-million.
Duration
Production from the project is currently expected to start in 2016, following the completion of more detailed evaluation, financing and construction. Development plans and a development decision for the project will be finalised once a strategic review of commercial options is complete.
Latest Developments
Information from the scoping study will be used to support the partnering process with Azure Capital, which started earlier this year. Project development activities will await finalisation of this process.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
IMX Resources, tel +61 8 9388 7877, fax +61 8 9382 2399 or email info@imxresources.com.au.
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