ASX RELEASE
Thursday - 12 January 2012
KEY MANAGEMENT APPOINTMENTS ANNOUNCED BY EMERGING AUSTRALIAN IRON ORE PRODUCER
Emerging Australian iron ore producer, IronClad Mining (ASX:
IFE) today announced four key managements appointments for
the Company's Wilcherry Hill iron ore project on South
Australia's Eyre Peninsula.
The appointments are: Mr. Ian McRae as Operations Manager;
Mr. Chris Mroczek as Chief Geologist; Mr. Denis O'Callaghan
as Mine Superintendent; and Mr. Daryl Gray as Logistics
Manager.
Today's announcement follows the SA Government's formal
approval late last year of IronClad's Program for
Environmental Protection and Rehabilitation (PEPR) - formerly
known as the Mining and Rehabilitation Plan (MARP) - the
final statutory hurdle for the project.
"These key appointments further enhance the calibre of expertise we already have in place in our Wilcherry Hill project management team," IronClad Mining Executive Chairman, Mr. Ian Finch, said today.
MEDIA CONTACT: Sean Whittington Field Public Relations (08) 8234 9555 or (0412) 591 520About the Wilcherry Hill iron ore project
The Wilcherry Hill iron ore project - an 80:20 Joint Venture
between IronClad and its associated company, Trafford
Resources Limited (ASX-TRF) - is on track to commence
shipments of Direct Shipping Ore (DSO) for sale to Chinese
steel mills in the second quarter of the 2012 calendar
year.
The first two years of production from Stage One of the
Wilcherry Hill project has already been sold to the Chinese
steel mills under a comprehensive sales contract and
marketing agreement.
Mr Finch said Stage One of the project involves production of
one million tonnes per annum (Mt pa) of DSO for export to
Asia, increasing up to 2 Mt pa in the second year.
Stage Two involves an increase in production to 4 -5 Mt of
iron ore per annum including both DSO and beneficiated
concentrate
Stage Three includes the exploration and development of the
joint venture's separate Hercules Project, 15 kilometres
south east of Wilcherry Hill, which has an inferred and
indicated JORC classification of 198 Mt, and is expected to
increase output of the operation to 10-12 Mt pa by 2015.
Mr Finch said a feasibility study for Stage One of the
project established that, with an average iron ore price of
A$135 per tonne FOB (net of freight charges) into China and
initial operating costs of around A$85 per tonne, the project
would provide IronClad with strong margins of approximately
A$50 per tonne and an operating cash flow of around A$80
million per year at full production during the first stage.
distribué par | Ce noodl a été diffusé par IronClad Mining Limited et initialement mise en ligne sur le site http://www.ironcladmining.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-13 03:46:01 AM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
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