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Australia

Southdown Project

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Summary

Mine TypeOpen Pit
Study CompletedFeasibility
StagePermitting
Commodities
  • Iron Ore
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotThe Southdown Project is one of Australia’s largest undeveloped high-grade magnetite projects.

In April 2025, Grange Resources completed the feasibility study, covering work undertaken from 2022 to 2024, for the development of the Southdown Magnetite Project.

There remains strong potential to substantially extend the mine life and expand concentrate production.

Next Steps:
- Seek an equity partner;
- Progress financing pathways;
- Undertake further work during a bridging phase to assess opportunities identified as the Definitive Feasibility Study (DFS) progresses, once suitable partners have joined the Project.

The Revised Proposal, lodged in January 2023 to amend the existing State environmental approval (MS816), has been withdrawn and will be resubmitted once the project description is finalised in conjunction with any third-party investment partner.

Owners

SourceSource
CompanyInterestOwnership
Grange Resources Ltd. 100 % Indirect
The Grange Resources Ltd. holds 100% ownership in the Southdown Magnetite Project.

Contractors

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Deposit type

  • Metamorphic hosted
  • Iron formation hosted

Summary:

The Southdown Project lies within the Albany-Fraser Orogen, a high-grade metamorphic belt formed during the Mesoproterozoic because of the convergence of the Western Australian and Mawson Cratons. The host rocks are highly deformed granulite facies orthogneiss of the Dalyup Gneiss from the Biranup Zone of the Kepa Kurl Booya Province.

The Southdown Magnetite Deposit comprises an east-west striking zone of quartz-magnetite gneiss and granulite, hosted by a quartz-biotite dominant metasedimentary gneiss and migmatite assemblage. Aeromagnetic data and drilling confirm that the magnetite mineralisation has a strike length of approximately 12 km and dips at 60 to 65 degrees to the south. A low intensity magnetic anomaly extends a further 7 km to the east for a total length of 19km.

The 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 southeast dipping sinistral faults. The magnetite mineralisation is poorly exposed but forms a low east west trending ridge which is more prominent in the western half of the deposit but largely buried beneath 20-80m of Pallinup FM sands/silts. The magnetite mineralisation outcrops in only a few locations within the western portion of the deposit.

The currently defined Resource extends over 11 kilometres of strike, with variable depths ranging from 50 metres below surface in the west to 555 metres below surface in the east.

Dimensions
The Southdown mineralisation is divided into 4 zones by faults offsetting the stratigraphy; mineralisation would otherwise be continuous over the full strike extent.

Being hosted in a synformal structure, the depth extent is reasonably well defined by the fold hinge.

Western Zone
• Strike Extent: 2,200 m;
• Width Extent: 100 m;
• Depth Extent: 480 m.

Central Zone
• Strike Extent: 1,200 m;
• Width Extent: 100 m;
• Depth Extent: 450 m.

Eastern Zone
• Strike Extent: 2,000 m;
• Width Extent: 100 m;
• Depth Extent: 520 m.

Far Eastern Zone
• Strike Extent: 5,700 m;
• Width Extent: 100 m;
• Depth Extent: 570 m.

Reserves

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Mining Methods

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Required Heavy Mobile Equipment

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Comminution

Crushers and Mills

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Processing

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Commodity Production

CommodityUnitsAvg. AnnualLOM
Iron Ore kt 4,800134,400
All production numbers are expressed as concentrate.

Operational metrics

Metrics
Annual mining rate  ....  Subscribe
Annual production capacity  ....  Subscribe
Annual processing capacity  ....  Subscribe
Stripping ratio  ....  Subscribe
Waste tonnes, LOM  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Total tonnes mined, LOM  ....  Subscribe
* According to 2025 study.

Production Costs

CommodityAverage
All-in sustaining costs (AISC) Iron Ore  ....  Subscribe
C1 cash costs Iron Ore  ....  Subscribe
All-in costs Iron Ore  ....  Subscribe
Assumed price Iron Ore  ....  Subscribe
* According to 2025 study / presentation.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M AUD  ......  Subscribe
OP OpEx $M AUD  ......  Subscribe
Processing OpEx $M AUD 3,436
Transportation (haulage) costs $M AUD 1,212
Total OpEx $M AUD  ......  Subscribe
Royalty payments $M AUD  ......  Subscribe
After-tax Cash Flow (LOM) $M AUD  ......  Subscribe
Pre-tax NPV @ 10% $M AUD  ......  Subscribe
Pre-tax NPV @ 8% $M AUD  ......  Subscribe
After-tax NPV @ 10% $M AUD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jul 6, 2025
....................... Subscription required ....................... Subscription required Subscription required Apr 14, 2025
....................... Subscription required ....................... Subscription required Subscription required Apr 14, 2025

Workforce

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