Balmoral South Iron Ore Project, Australia

The Balmoral iron project located Pilbara region Western Australia approximately 80km south-west Karratha. Currently planning stage development project reportedly world's largest unexploited magnetite resource. owned Mineralogy granted contractual rights project International Minerals wholly-owned subsidiary Australasian Resources. International Minerals mine process billion tons magnetite iron mine 24Mt export-quality year. Production expected 2010/11.

SBM VSI5X Impact Crusher, VSI Impact Crusher, PE Jaw Crusher, JCE Jaw Crusher

The project mainly concentrate Susan Palmer deposit hosted within southern section Balmoral resource. feasibility project completed 2008 environmental approvals project received 15 March 2010.

Reserves

The mine hosts estimated 859Mt probable reserves graded 22.6% MagFe 31.2% total Fe. reserves indicate increase 26% following drilling programme completed 2008.

"The Balmoral iron project located Pilbara region Western Australia."

Mineral resources mine include indicated inferred total 1,605Mt increase 44% drilling. resources graded 22.6% MagFe 31.2% Total Fe. cut-off grade reserves resources reported 15%.

SBM VSI Impact Crusher, PE Jaw Crusher, JCE Jaw Crusher, Symons Cone Crusher

Geology

The Balmoral project geologically identical adjacent Central Block Project Cape Preston region. deposit lies within Hamerseley basin hosts Joffre banded iron formation (BIF) Brockman iron formation. bodies within deposits Brockman iron formation stratigraphic sequence not exhibit significant discontinuity.

The Joffre BIF primary target lower grade BIF Brockman formation. is average 300m thick overlain Yandicoogina Shales partially silica breccias. BIF lies Whaleback Shale Dales Gorge Members Brockman formation. associated minor faulting intruded series 4m-thick dolerite dykes.

SBM PE Jaw Crusher, JCE Jaw Crusher, Symons Cone Crusher, Hydraulic Cone Crusher

Mining processing

"The Balmoral project geologically identical adjacent Central Block Project Cape Preston region."

The deposit mined using conventional open-cut methods including drilling blasting loading hauling. pit depth expected approximately 300m. Magnetite mined rate 80Mt/y. Overburden waste amount 80Mt/y annually.

Processing facilities mine site include crusher concentrator pellet plant. Unoxidised magnetite Joffre BIF beneficiated high-grade concentrate 68% Fe contaminants. Approximately 24Mt concentrate produced annually 14Mt pelletised.

SBM JCE Jaw Crusher, Symons Cone Crusher, Hydraulic Cone Crusher, Spring Cone Crusher

Infrastructure

The transported along 30km-long conveyor connect mine site stockyard facilities Cape Preston. supplied gas-fired combined cycle station installed capacity 600MW.

34,000tjpa gas supplied project. desalination dewatering pit individual capacity 40gal per annum 4gal per annum respectively constructed. addition 2Mt storage capacity built stockyard.

SBM Symons Cone Crusher, Hydraulic Cone Crusher, Spring Cone Crusher, Jaw Crusher Mobile Crusher

Project finance

The mine financed Shougang Corporation fourth-largest steel maker China. strategic alliance formed Australasian Resources March 2007 Shougang agreed invest A$42m addition $56m invested earlier fund $2bn project completely. return debt Shougang buy iron products project.

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