Karara Iron Ore Project
Located 200km east of Geraldton in Western Australia, the Karara Iron Ore Project is being developed by Karara Mining Limited (KML), a 50:50 Joint Venture between Gindalbie Metals and Chinese steel producer, AnSteel.
The Karara Project is based on the integrated development of a substantial, long-life magnetite concentrate operation with the potential to produce +30mtpa for more than 30 years, and a smaller scale hematite operation based on a number of high-grade hematite deposits.
The magnetite operation is supported by a world-class orebody
in terms of the scale, quality, consistency and extremely low
waste: ore stripping ratio, which will result in relatively low mining costs. Karara will take low-grade magnetite iron ore and produce a high-grade premium concentrate to be used in steel making. The operation includes construction and operation of a large open pit mine, a major process plant and significant supporting infrastructure.
The first shipment of hematite product from Karara occurred in March 2011, and the major magnetite project is scheduled to make its first shipment in late 2012.
Karara has a long-term offtake contract with Ansteel covering life-of-mine production from the Karara Project.
Aug 2007 - Bankable Feasibility Study Completed
Sep 2007 - Joint Venture Development Agreement Signed
Nov 2007 - Decision to Mine
Oct 2009 - Environmental Approval Received
Nov 2009 - Construction Commenced
Apr 2010 - US$1.2 billion Project Loan signed
Mar 2011 - First Shipment of DSO
Nov 2012 - First production of magnetite concentrate
The Latest Karara Flyover