Iron Ore Mining

Matsu Iron Project

The Matsu project is a nearby satellite deposit to Ridges, which is 10 km southeast of the Ridges project and is very similar in characteristics to that of the Ridges deposit.

Matsu is well advanced with mining leases and associated tenements having been granted in 2014 and the JV is the process of completing approvals with to DMIRS and other regulatory body’s, plus pre development and planning works for the nearby Matsu mine.

The transition plan from the Ridges to Matsu deposits is to complete operations at the Ridges deposit, while simultaneously completing final approvals and the mine development works for the Matsu project, allowing operations at Matsu to commence when Ridges operations stops, which will result in continuous operations for the project as a whole. The Ridges operations under the current mine plan will be continuous as no further permitting/ approvals and development works are required.

Matsu Map
Ridges Iron Operation 1

Drilling has established that there is a high-grade resource of 3.4M tonnes at 59.3% iron content. This will equate to a mine life of about three years. There is potential to extend the Matsu deposit through the acquisition of the resource known as Matsu North located on the mining leases currently held by Argyle Diamond Mine, talks are under way and well advanced with Argyle with respect to Matsu North. This would add a further 1.5 to 2M tonnes which would extend the mine life by 1 to 2 years.

Matsu section view

Approvals Status

Mining Proposal

  • Submitted the Matsu Mining Proposal and Mine Closure Plan on 9 April. The DMIRS’s internal target is to turn around assessments in 30 days; however we have been advised to allow 60 days for approval.
  • Target approval time: early to mid June 2021
  • Production capacity have applied for is up to 2,100,000 tonnes per annum of open pit mining and crushing and screening. If increase production, a variation to the Mining Proposal will be required
  • Expecting a few Requests for Information (RFI)
  • Total cost of preparation and submission of Mining Proposal: $100k

Mine Access Road/Haul Road

  • We submitted the 15% road design to Main Roads WA for approval prior to designing to 85%, then 100% issued for construction status
  • Target approval time: late May 2021
  • Not expecting any issues with the road approval
  • Total cost of preparation of road pre-construction design and drawings: $100k

Water Bore

  • Programme of Works for water exploration drilling approved; 26D Licence to Construct Water Bore obtained

Works to be completed

  • Programme of Works for geological infill drilling – this should be approved soon
  • Native Vegetation Clearing Permit application
  • 5C Licence to Take Water (this can applied for during water exploration/bore construction)
  • Works Approval for Landfill (x2)
  • Works Approval for Plant Operation
  • Dangerous Goods Licence (for storage and transportation of explosives)
Matsu Budget