August 26,
IMX Resources on Thursday officially opened its Cairn Hill Iron-ore/copper/gold operation, in South Australia.
IMX chairperson Johann Jacobs said that it’s first of its kind in South Australia. “We are very proud that IMX is the first of the next wave of Iron-ore producers in South Australia. Sufficient port and rail infrastructure are the keys to delivering a sustainable Iron-ore industry for South Australia.”
The Cairn Hill mine is expected to produce at a rate of up to 1,7-million tons a year, over five years, based on the current mine plan.
“High-grade magnetite is being mined at Cairn Hill before being transferred in purpose-built containers for railing to port Adelaide for shipping to Yingkou in north-eastern China for processing into a premium concentrate,” said IMX MD Duncan McBain.
IMX will spend about A$15-million to get phase-one mining into development with that cost covered fully by an investment by private Chinese diversified company, Sichuan Taifeng, which has committed a total of A$24-million for a 50% stake in projects within the Cairn Hill project area.
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