Overview
Stage | Permitting |
Mine Type | Open Pit |
Commodities |
|
Mining Method |
|
Mine Life | 28 years (as of Jan 1, 2022) |
The Southdown Magnetite Project definitive feasibility study on a 5 Mtpa development case is in progress and the results will be released when completed in 2023 year.
All tenements, permits and project assets continue to be maintained in good order. |
Source:
p. 21
The reacquisition of SRT's 30% interest in the Southdown Magnetite Project was completed on 17 July 2023. Grange now holds 100% ownership in the Southdown Magnetite Project.
Contractors
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Summary:
The Project is located ~90km northeast of Albany in the southwest corner of Western Australia. The Southdown deposit extends approximately 12km in length, under Mining Lease and Retention Licence covering an area of more than 120 square kilometres on largely freehold farming property.
The Southdown deposit occupies the core of a gently east plunging, overturned tight isoclinal syncline with a steeply south dipping axial surface. The deposit is offset by moderately northeast dipping dextral reverse faults and subsidiary steeply south-east dipping sinistral faults. Currently the resource extends for 11 kilometres of the 12 kilometre strike length of the deposit, with variable depths ranging from a surface outcrop in the west, to 480 metres below surface in the east.
Summary:
Mining will be undertaken by conventional bulk mining methods utilising drill and blast, hydraulic face shovels and dump trucks coupled to a run of mine (ROM) stockpile. Ore will be trucked directly from the blasted faces to either direct tip into the primary crusher or onto the ROM stockpile, as proposed within DFS 2012, but with a reduced mining rate to satisfy a nominal concentrate production rate of 5mtpa.
The final proposed pit is six kilometres long, one kilometre wide and about 370 metres deep.
The reserve within mine lease M70/1309 has the capacity to provide a nominal 5mtpa of concentrate for up to 28 years of mine life. This study uses contractor mining.
Mining will be undertaken as a conventional drill, blast, load and haul cycle. Bulk loading on 12 metre benches will utilise 600-tonne hydraulic face shovels. Ore and some surrounding waste will be selectively mined on multiple flitches with 400-tonne hydraulic excavators. All pit material with be hauled with 220-tonne capacity rear dump trucks. Ore will be trucked directly from the blasted faces to either direct tip into the primary crusher or to the ROM stockpile with waste either sent to WRDs or backfill.
Source:
Flow Sheet:
Summary:
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Pipelines and Water Supply
Source:
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Projected Production:
Commodity | Units | Avg. Annual |
Iron (magnetite)
|
kt
| 5,000 |
All production numbers are expressed as concentrate.
Operational Metrics:
Metrics | |
Annual mining rate
| ...... |
* According to 2022 study.
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Reserves at December 31, 2020:
Measure of recoverable magnetite Mineral Resources are reported above a cut-off of 10% DTR.
Mineral Resources are reported inclusive of Mineral Reserves.
Category | Tonnage | Commodity | Grade |
Proven
|
384.6 Mt
|
DTR
|
35.6 %
|
Probable
|
3.1 Mt
|
DTR
|
41.7 %
|
Proven & Probable
|
387.7 Mt
|
DTR
|
35.6 %
|
Measured
|
423 Mt
|
DTR
|
37.8 %
|
Indicated
|
86.8 Mt
|
DTR
|
38.7 %
|
Inferred
|
747.1 Mt
|
DTR
|
30.9 %
|
Total Resource
|
1,257 Mt
|
DTR
|
33.7 %
|
Commodity Production Costs:
| Commodity | Average |
All-in sustaining costs (AISC)
|
Iron (magnetite)
|
......
|
C1 cash costs
|
Iron (magnetite)
|
......
|
Assumed price
|
Iron (magnetite)
|
......
|
* According to 2022 study / presentation.
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2022 Study Costs and Valuation Metrics :
Metrics | Units | LOM Total |
Sustaining CapEx
|
$M AUD
|
......
|
Total CapEx
|
$M AUD
|
......
|
After-tax Cash Flow (LOM)
|
$M AUD
|
......
|
After-tax NPV @ 10%
|
$M AUD
|
......
|
After-tax IRR, %
|
|
......
|
After-tax payback period, years
|
|
......
|
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Required Heavy Mobile Equipment as of December 31, 2022:
HME Type | Size |
Excavator
|
400 t
|
.......................
|
.......................
|
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