British Marine has established a mining company, Nathan River Resources, which has acquired an iron ore project in the Northern Territory, Australia.
Nathan River Resources has taken ownership of, and been appointed as exclusive operator of the mine. The acquisition consists of the mine tenements, as well as a large amount of infrastructure including a 170km haul road and port facility.
The mine plan will also include a long term shipping requirement that can feed into the other parts of the Group's wider business.
The site spans a total of 1,890 sq km, south-east of the town of Ngukurr and the Roper River. The Savannah Way runs close to the mine site. The site is located approximately 50km inland from the Gulf of Carpentaria, and around 750km from Darwin.
The mine site is linked to the loading facility at Bing Bong by a 170km haul road. The Bing Bong loading facility is located approximately 50km from the town of Borroloola.
Resources and Reserves
The project has a JORC Compliant Mineral Resource of 687 million tonnes at a minimum iron content of 39% Fe. 45 million tonnes of the JORC Resource has iron content in the range of 55% to 65% Fe .
The project has proven and probable reserves of 14.4 million tonnes of minimum 59% Fe ore.
Infrastructure and Equipment
The project has significant infrastructure in place including a high quality 170km haul road linking the mine site and the loading facility at Bing Bong.
Nathan River Resources also owns a variety of mining and haulage equipment including a fleet of road trains and significant marine assets including barges and tugs.