Karara Iron Ore Project is being developed through a 50:50 Joint Venture between Gindalbie Metals Limited and Chinese steel producer Anshan Iron & Steel Group Corporation (AnSteel).

Iron ore mine project 225 km east of Geraldton. Invesment for development of iron ore mine exploration $18 billion.

The project includes magnetite and hematite resources. The magnetite resource is said to be 1.85 Bt and has an initial reserve of 522 Mt. First production of 8Mtpa is scheduled for 2010.

A high grade concentrate will be shipped to China where a pellet plant is to be located. The hematite resource is 27 Mt plus a 14.3 Mt reserve. Initial production of 2 Mtpa of Direct Shipping Ore (DSO) hematite is scheduled for 2009.

Source: Australian Mining

Find More Other News : Company, Exploration, Iron Ore, Mineral Exploration, Mining Investment, Mining Jobs, Mining Top News, Steelmaker