17/05/2011 - 15:39

IOH confirms viability of Pilbara mine

17/05/2011 - 15:39

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Another building block for the development of Anketell Point in the Pilbara has fallen into place, with Iron Ore Holdings confirming the technical and financial viability of its Bungaroo South project.

Another building block for the development of Anketell Point in the Pilbara has fallen into place, with Iron Ore Holdings confirming the technical and financial viability of its Bungaroo South project.

IOH released a mine concept study today that indicated a mine life of 15 years and peak production of 15 million tonnes of ore per year for Bungaroo South.

The study flagged an approvals process of at least two years, making approvals the critical path towards potential production in 2015, a timeline broadly aligned with the estimated commissioning of the Anketell port.

The Bungaroo South deposit is located approximately 50 kilometres from the planned rail infrastructure for the proposed Anketell port development.

The company said it would now assess its options in regards to developing a pre-feasibility study for the mine.

"IOH will also continue engagement with the state government and Dampier Port Authority on securing future capacity at Anketell Port," managing director Alwyn Vorster said.

IOH shares inched slightly upwards, by 0.7 per cent, to finish trade today at $1.48.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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