GRANGE Resources is eyeing a significant increase in the scale and cost of its proposed $2 billion Southdown magnetite project near Albany to offset the negative impact of the Rudd government's planned resource super profits tax.
Perth-based Grange Resources has secured a 69 per cent price increase for its iron ore pellets and is making moves to change from benchmark to index-based pricing.
Grange Resources expects discussions with financiers to pick up after it today received final state approval for its Southdown magnetite iron joint venture near Albany.
Grange Resources says it has raised $124 million from the rights issue component of its capital raising strategy, with funds to go towards debt reduction and a restructure of iron ore royalty obligations.
Shares in iron ore pellet producer Grange Resources fell after it unveiled plans to raise $167 million in new equity in a deeply discounted offer to key stakeholders including a Chinese investor.
Grange Resources says it will close its Port Latta iron pellet plant in Tasmania for four weeks as Bluescope Steel cancels a further four contracted shipments.
Grange Resources shareholders have overwhelmingly voted in favour of its merger with private Tasmanian magnetite iron ore pellet producer Australian Bulk Minerals.
Private Chinese company Shagang International Holdings will emerge with a 45 per cent stake in Grange Resources Ltd as a result of a merger deal announced today between Grange and Australian Bulk Minerals.
Perth-based Grange Resources Ltd is set to step into the producer ring later this year following joint venture approval to develop an iron ore mine in Malaysia.
Aspiring iron ore miner Grange Resources Ltd has selected its preferred power transmission option, which will have indirect benefits for communities on the south coast that have been plagued by poor power supplies in recent years.
Perth-based iron ore hopeful Grange Resources Ltd has acquired 2317 ha of freehold land underlying the three mining leases containing the western six km of the Southdown magnetite deposit, the company has announced.
Rio Tinto Ltd could acquire up to 19.9 per cent of Perth-based iron ore hopeful Grange Resources Ltd, making it Grange's largest security-holder, after agreeing to sell iron ore tenements adjoining the Southdown magnetite deposit.
Perth-based minerals explorer Grange Resources Ltd has signed a memorandum of understanding with Patrick Port Services to study the $300 million development of pipeline and port infrastructure for its Southdown Magnetite Project.
Perth-based minerals explorer Grange Resources Ltd will assess the feasibility of alternate power transmission line solutions for its Southdown Magnetite project, which it expects to complete by October.
Northbridge-based Coziron Resources Ltd has signed an agreement with Perth's Grange Resources Ltd, which could see Coziron pocket $1 million after in exchange for a 50 per cent share holding of some potential coal tenements.
Perth-based mineral explorer Grange Resources Ltd's share price has risen over 7 per cent following the launch of an international tender process for joint venture partners for its US$1.2 billion (A$1.7 billion) iron ore pellet project.
Preliminary capital costs for Grange Resources Ltd's dual iron ore project near Albany and its Malaysian iron ore pellet operation have blown out from just over a billion dollars to more than $1.5 billion.
Grange Resources' search for an equity partner in the development of its billion dollar-plus Southdown magnetite and iron pellet project has received a boost with a resource increase to more than 400 million tonnes.
