Gindalbie teams with Thiess

Aspiring iron ore miner Gindalbie Metals Ltd has signed a project alliance agreement with engineering company Thiess Pty Ltd to support development of its Karara project in the mid-west region near Geraldton.
Gindalbie and Thiess, a subsidiary of Leighton Ltd, aim to complete a definitive feasibility study this year for development of both the magnetite and hematite components of the Karara project.
Subject to satisfactory completion of the feasibility study and securing funding, the two companies plan to work together on development of the project, which is likely to cost in excess of $700 million.
Gindalbie is one of several companies, including Murchison Metals and Midwest Corporation, seeking to develop large iron ore projects in the mid-west region.
The Mt Karara project includes a 1.5 million tonnes per annum "starter" hematite project previously known as Blue Hills, which is due to starting mining in 2007.
The infrastructure for the starter project is already in place.


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