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Australia
Savage River Mine (Savage River UG expansion Project)

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 Location:
160 km W from Launceston, Tasmania, Australia

  Regional Office:
34A Alexander Street
PO Box 659
Burnie
Tasmania, Australia
TAS 7320
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Fax+61-(3)-6432-3390
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Personnel
  • Filings & News

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Overview

StageProduction
Mine TypeOpen Pit
Commodities
  • Iron (magnetite)
Mining Method
  • Truck & Shovel / Loader
Production Start...
Mine Life2035
Savage River consists of North Pit and Centre Pit and one previously mined pit (South Deposit) which is not yet planned to be mined as part of the Life Of Mine Plan.

During 2021 a Pre-feasibility Study (PFS) was completed on underground mining of the North Pit Resources. The study concluded that underground mining was technically and economically viable.

A Definitive Feasibility Study (DFS) is planned to commence in 2022. A declaration of an underground Ore Reserve has not yet been made and is dependent on the outcomes of the DFS and integration with the open pit mining schedules.


Owners

Source: p. 28
CompanyInterestOwnership
Grange Resources Ltd. 100 % Indirect
Grange Resources Ltd. indirectly owns 100% interest in the Savage River mine through it's wholly owned subsidiary Grange Resources Tasmania Ltd.

Contractors

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Deposit Type

  • Metamorphic


Summary:

The Savage River magnetite deposit lies within and near the eastern margin of the Proterozoic Arthur Metamorphic Complex in north western Tasmania. This complex is exposed along a northeastsouthwest trending structural corridor, the Arthur Lineament, which separates Proterozoic sedimentary rocks to the northwest from a variety of Palaeozoic rocks to the southeast.

The magnetite deposits at Savage River represent the largest of a series of discontinuous lenses that extend in a narrow belt for some 25 kilometres south of the Savage River Township. The deposit is subdivided into sections on the basis of areas that have been mined. The areas are referred to as North Pit, South Lens, Centre Pit, Centre Pit Southern Extension and South Deposit.

Magnetite ore is almost entirely enclosed within a highly sheared and strike-faulted belt of mafic and ultramafic rocks specifically serpentinite and talc-carbonate schist. The magnetite ranges in thickness from 40 to 150 metres in width and is termed the Main Ore Zone (MOZ). Narrow (<20metre) lenses and layers also occur in the mafic sequence to the west. The mafic sequence comprises chlorite-calcite albite schist and layered green amphibole chlorite-albite schist.

A suite of late, strongly deformed metabasalt and metadolerite intrusive dykes occur either sub-parallel to or cut obliquely across the MOZ. Vein magnesite occurs adjacent to the MOZ with significant bodies developed in the east at South Lens and ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The mine comprises three principal open pits - North, Central and South Pits - Oriented north-south covering a 4km strike length and separated by unmined zones of thin or low grade material. Centre Pit is separated from North Pit by the Savage River which runs through a pillar area left to retain the river channel. The pits average 100-150m in depth - the proposed cut back and extensions will deepen them by up to a further 250m.

Mining activities in the open pit involve the use of conventional off - highway rear-dump trucks and hydraulic excavators, with drilling and blasting being used to prepare the ground ahead of mining. Grade control sampling is conducted on all blast holes within the orebody, as well as on selected holes around the periphery.


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Production:

CommodityProductUnits202120202019201820172016
Iron (magnetite) Concentrate kt  ......  Subscription required  ......  Subscription required  ......  Subscription required2,2761,9602,397
Iron (magnetite) Pellets t  ......  Subscription required  ......  Subscription required  ......  Subscription required2,185,6271,895,1802,378,486
Subscription required - Subscription is required.

Operational Metrics:

Metrics202120202019201820172016
Total tonnes mined  ......  Subscription required  ......  Subscription required14,462,931 bcm14,730,697 bcm12,461,515 bcm9,514,884 bcm
Ore tonnes mined  ......  Subscription required  ......  Subscription required2,108,370 bcm1,050,067 bcm1,193,821 bcm1,218,363 bcm
Subscription required - Subscription is required.

Reserves at December 31, 2021:
Savage River Ore Reserve and Mineral Resource Estimate:
• Elemental compositions were measured from Davis Tube Concentrate;
• Cut-off grade: 15% DTR:
• Stockpiles were included in this summary table.

CategoryTonnage CommodityGrade
Proven 61.6 Mt DTR 51.1 %
Proven 61.6 Mt Iron 67.7 %
Probable 41.5 Mt DTR 41.4 %
Probable 41.5 Mt Iron 67.7 %
Proven & Probable 103.1 Mt DTR 47.2 %
Proven & Probable 103.1 Mt Iron 67.7 %
Measured 167.7 Mt DTR 52.7 %
Measured 167.7 Mt Iron 67.9 %
Indicated 176.9 Mt DTR 43 %
Indicated 176.9 Mt Iron 68.1 %
Inferred 141.2 Mt DTR 39.7 %
Inferred 141.2 Mt Iron 68.9 %
Total Resource 485.8 Mt DTR 45.4 %
Total Resource 485.8 Mt Iron 68.3 %

Commodity Production Costs:

CommodityUnits202120202019201820172016
C1 cash costs Iron (magnetite) AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required 98.1 / t   99.2 / t   79.1 / t  
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Financials:

Units202120202019201820172016
Capital expenditures M AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required 27.7   110.7  
Revenue M AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required 368.2   247.9   276.3  
Gross profit M AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required 129.3   74.5   103.8  
Pre-tax Income M AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required 135.3   66.8  
After-tax Income M AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required 112.9   60.7  
Operating Cash Flow M AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required 167.4   71.2  
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Pipelines
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Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Aug 23, 2022
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....................... Subscription required ....................... Subscription required Subscription required Aug 23, 2022
....................... Subscription required ....................... Subscription required Subscription required Aug 23, 2022
....................... Subscription required ....................... Subscription required Subscription required Aug 23, 2022
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Staff:

Total WorkforceYear
Subscription required 2021
Subscription required 2020
Subscription required 2019
Subscription required 2018

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Annual Report 2018
Project Description 2018
Annual Report 2017
Other 2008
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