Aurium acquires iron and manganese exploration tenement in W. Australia

Wesnesday, 02 November 2011 | sourced steelorbis

Perth-based Western Australian mineral exploration company Aurium Resources Ltd has acquired an iron and manganese exploration tenement in the Earaheedy Basin in Western Australia for a cash consideration of A$15,000.

The exploration tenement covers parts of the iron-rich Frere Formation in the Earaheedy Basin, which is highly prospective for large scale iron ore deposits. The new tenure is also prospective for manganese mineralization.

The manganese potential was recently highlighted with the discovery of high grade manganese (assays to 47.4 percent Mn) by Zenith Minerals at their Red Lake Prospect, 57 kilometers southwest of the tenement.

Tags: iron ore , Australia , raw mat , Oceania , mining , investments

Australia’s IOH sells three iron ore tenements in Pilbara

Friday, 14 October 2011

Australia-based iron ore exploration company Iron Ore Holdings Limited (IOH) has announced that it has sold its three Central Pilbara satellite tenement packages, namely Phil's Creek, Lamb Creek, and Yandicoogina Creek to Process Minerals International (PMI), wholly-owned subsidiary of Australia-based diversified mining service and processing company Mineral Resources Ltd.

IOH will receive A$42 million cash over a 90-day period and at the final completion of the MinRes transaction IOH will retain 100 percent ownership of 878 million mt of JORC resources in the Pilbara region of Western Australia.

According to the IOH statement, for the transaction to be completed, IOH needs to get ministerial consent for the transfer of the relevant tenements and approval from the Department of Minerals & Petroleum for the Phil's Creek mining proposal. The parties have 45 business days to satisfy these conditions.

Tags: raw mat , Australia , Oceania , mining

Murchison gets Oakajee extension from W. Australian government

Friday,Mar04,2011

The Australian iron ore exploration company Murchison Metals Ltd (Murchison) has announced that the government of Western Australia has agreed to grant an extension to the State Development Agreement (SDA) for the Oakajee port and rail infrastructure project in Western Australia.

Murchison and its partner in the Oakajee project, Mitsubishi Development (Mitsubishi), a subsidiary of Mitsubishi Corporation of Japan, requested the extension following their announcement of revised project schedules for the Oakajee infrastructure project and the proposed expansion of the Jack Hills iron ore project on November 4, 2010.

The Jack Hills expansion project aims to expand current operations from nearly two million mt a year to 35 million mt a year, with an extended mine life of 25 years.

First shipments of ore through the new Oakajee Port are expected in late 2014/early 2015.

Tags: iron ore , raw mat , Australia , Oceania , investments , mining, Mitsubishi Development, jack Hills iron ore project