Bungalow Joint Venture

timetable

Status:

Feasibility

Commodity:

Iron Ore

Ownership:

70%

Location:

Eyre Peninsula, South Australia

Summary:

Chinese steel major Baotou Iron & Steel Group have the right to a 50% interest in the Bungalow magnetite project on the Eyre Peninsula South Australia by spending the first A$ 40 million on development. To date Baotou Iron & Steel Group have spent A$ 24 million and the project has defined 338Mt of Mineral Resources.
The project is currently the subject of a Prefeasibility Study targeting a 5Mtpa magnetite concentrate operation. Concentrate would be transported from the project to Port Spencer for export via a 100km long slurry pipeline.

JORC:

For details of resources see announcement 25th May 2012
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