The Razorback Iron Project will consist of a conventional large-scale open cut mining operation. In the Base Case PFS work of early 2013, it was envisaged that Razorback Iron Project would use standard drill and blast, shovel and truck haulage methodology.
However, due to the relative softness of the rocks mined and the long shape of the open pit, optimisation work has determined that IPCC (In Pit Crushing and Conveying) may be the appropriate mining method, which has significant operational advantages and lower OPEX. For more information on Magnetite Mines intended application of IPPC click here.
Derived from current Resource inventory in 2013, Magnetite Mines intends to mine 60 Mtpa for a mine life of 17 years. Upgrading of the Inferred Resource and near mine exploration in the future will easily increase this current mine life. There is minimal to no overburden, therefore production can begin almost immediately. The current mine optimisation (November 2013) has the stripping ratio extremely low for life of mine to be 1: 0.24.
Updated November 2013