DOCSLIB.ORG

East-West Railway and Mine Sites (Stage B)

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

Pilbara Iron Ore & Infrastructure Project: East-West Railway and Mine Sites (Stage B) Fortescue Metals Group Limited Report and recommendations of the Environmental Protection Authority Environmental Protection Authority Perth, Western Australia Bulletin 1202 October 2005 Environmental Impact Assessment Process Timelines Date Progress stages Time (weeks) 3/5/04 Level of Assessment set (following any appeals upheld) 17/1/05 Proponent Document Released for Public Comment 8 14/3/05 Public Comment Period Closed 30/8/05 Final Proponent response to the issues raised 27/10/05 EPA report to the Minister for the Environment 8 ISBN. 0 7307 6843 0 ISSN. 1030 - 0120 Assessment No. 1520 Summary and recommendations Fortescue Metals Group Limited (FMG) proposes to develop iron ore mines north of the town of Newman at Christmas Creek and Mindy Mindy, a beneficiation plant at Christmas Creek, a borefield, a 111 kilometre east-west railway system to connect the Christmas Creek mine to the north-south railway to Port Hedland (Figure 1) and an accommodation village. This report provides the Environmental Protection Authority’s (EPA’s) advice and recommendations to the Minister for the Environment on the environmental factors relevant to the proposal. Section 44 of the Environmental Protection Act 1986 requires the EPA to report to the Minister for the Environment on the environmental factors relevant to the proposal and on the conditions and procedures to which the proposal should be subject, if implemented. In addition, the EPA may make recommendations as it sees fit. The EPA is also required to have regard for the principles set out in section 4A of the Environmental Protection Act 1986. Relevant environmental factors and principles The EPA decided that the following environmental factors relevant to the proposal required detailed evaluation in the report: a) Flora and fauna; b) Groundwater and subterranean fauna; c) Surface water and mine discharges; d) Aboriginal culture and heritage; e) Rail/road transport and associated environmental factors; f) Dust, noise, light overspill and vibration; and g) Landforms, mine closure planning and rehabilitation. There were a number of other factors which were relevant to the proposal, but the EPA is of the view that the information set out in Appendix 3 provides sufficient evaluation. The following principles were considered by the EPA in relation to the proposal: (a) the precautionary principle; (b) the principle of intergenerational equity; (c) the principle of the conservation of biological diversity and ecological integrity; and (d) the principle of waste minimisation. The EPA received fifteen submissions on this proposal, from State and local governments, organisations and individuals. The main issues revolved around direct and potential impacts to high value Mulga groves and to the Fortescue Marsh. Aspects of the proposal which were considered to influence these values were the setting of the mine itself (ie the clearing, loss of vegetation and habitat), the proposed route of the railway linking it to Port Hedland and changes to surface and groundwater regimes, i with their potential effect on vegetation and stygofauna. Other submissions mentioned the scope of the assessment, fauna survey methodology, the broader cumulative impacts of groundwater abstraction and pit dewatering, the spread of weeds, dust, rehabilitation and mine closure. Conclusion The EPA has considered the proposal by FMG to develop the Mindy Mindy and Christmas Creek iron ore mines between 70km and 100km generally north of the town of Newman, a beneficiation plant at Christmas Creek, a borefield, a connecting 111 kilometre east-west railway system and an accommodation village. Since release of the PER, FMG has made several major modifications to the proposal which originally included mines at Mt Lewin and Mt Nicholas. The connecting infrastructure to those minesites is not now needed, leading to a change in the length of the railway from 160km to 111km. An alternative rail line crossing of the Chichester Ranges further to the east is proposed (option 3) versus the originally preferred option 2 route and overall disturbance has reduced from 17107ha to 12175ha, with a reduction in the amount of Mulga that will need to be cleared. The EPA notes that the Christmas Creek minesite and the rail access corridor are located in or near to high conservation value features such as Mulga woodlands and the Fortescue Marsh and that these features are at some risk from project activities. In order to mitigate these risks and impacts FMG proposes to prepare and implement several management plans as well as an offset package directed to assist the Department of Conservation and Land Management in related research fields. The EPA considers that these measures are appropriate and has prepared a complementary set of recommended conditions. The EPA has concluded that it is unlikely that the EPA’s objectives would be compromised provided there is satisfactory implementation by the proponent of their commitments and the recommended conditions set out in Appendix 5 and summarised in Section 4.2. Recommendations The EPA submits the following recommendations to the Minister for the Environment: 1. That the Minister notes that the proposal being assessed is for two iron ore mines, a beneficiation plant, a borefield and a connecting east-west railway system (to connect to the proponent’s previously assessed Stage A north-south railway); 2. That the Minister considers the report on the relevant environmental factors and principles as set out in Section 3; 3. That the Minister notes that the EPA has concluded that it is unlikely that the EPA’s objectives would be compromised, provided there is satisfactory implementation by the proponent of the recommended conditions set out in Appendix 5, and summarised in Section 4.2, including the proponent’s commitments. ii 4. That the Minister imposes the conditions and procedures recommended in Appendix 5 of this report. Conditions Having considered the proponent’s commitments and information provided in this report, the EPA has developed a set of conditions that the EPA recommends be imposed if the proposal by FMG to develop iron ore mines and processing facilities at Christmas Creek and Mindy Mindy, together with a beneficiation plant, a borefield and an east- west railway to Christmas Creek is approved for implementation. These conditions are presented in Appendix 5. Matters addressed in the conditions include the following: (a) that the proponent shall fulfill the commitments in the Consolidated Commitments statement set out as an attachment to the recommended conditions in Appendix 5; (b) significant flora and communities; (c) fauna management; (d) Fortescue Marsh management; (e) borefield management; (f) subterranean fauna; (g) surface water management; (h) rail route; and (i) decommissioning and final rehabilitation. iii Contents Page Summary and recommendations ................................................................................... i 1. Introduction and background ............................................................................... 1 2. The proposal............................................................................................................ 3 3. Relevant environmental factors and principles................................................... 4 3.1 Flora and fauna ............................................................................................. 5 3.2 Groundwater and subterranean fauna......................................................... 11 3.3 Surface water.............................................................................................. 16 3.4 Rail/road transport and associated environmental impacts ........................ 19 3.5 Dust, noise, light overspill and vibration.................................................... 30 3.6 Aboriginal culture and heritage .................................................................. 32 3.7 Landforms, mine closure planning and rehabilitation................................ 33 3.8 Greenhouse gas emissions.......................................................................... 36 3.9 Other issues raised in submissions ............................................................. 38 3.10 Relevant environmental principles............................................................. 39 4. Conditions and Commitments .................................................................... 39 4.1 Proponent’s commitments .......................................................................... 40 4.2 Recommended conditions.......................................................................... 40 5. Other Advice ......................................................................................................... 41 6. Conclusions ........................................................................................................... 43 7. Recommendations................................................................................................. 44 Notes....................................................................................................................... 11 Offsets ............................................................................................................................ 2 Mulga Vegetation Communities............................................................................... 2 Threatened Fauna Species .......................................................................................
Recommended publications
  • Welcome to Cloudbreak

    Welcome to Cloudbreak

    Welcome to Cloudbreak This booklet provides you with the information needed to help make your stay at Cloudbreak more pleasant. Please take the time to read through the information before arriving on site. FEBRUARY 2009 Table of Contents Welcome Message ........................................................................................... 1 Foreword ..................................................................................................... 1 PART ONE: Before you depart ......................................................................... 2 The Pilbara ....................................................................................................... 3 Fortescue Metals Group Limited ...................................................................... 3 Cloudbreak....................................................................................................... 3 Packed and ready to go .................................................................................... 4 At the departure lounge ............................................................................... 4 Parking at Perth Airport ............................................................................... 5 Staying in touch ............................................................................................... 5 On Arrival ......................................................................................................... 5 At the Airstrip ..............................................................................................
  • Annual Report (2020)

    Annual Report (2020)

    For personal use only TERRACOM LIMITED 2020 ANNUAL REPORT Contents SECTION 1: COMPANY OVERVIEW 2 Chairman’s letter to shareholders 3 Directors 4 Management team 6 Company information 7 Current operations and project structure 8 Operations overview 9 Current mining tenements held 10 SECTION 2: COMPANY UPDATE 11 Operational summary 12 Production overview 13 Financial overview 14 Operational performance 15 SECTION 3: COMPANY OPERATIONS AND PROJECTS 16 Australia Operations and Projects 17 South Africa Operations and Projects 22 SECTION 4: JORC RESOURCES AND RESERVES STATEMENT 31 SECTION 5: FINANCIAL REPORT 39 Director’s Report 41 Auditors Independence Declaration 64 Statement of profit or loss 66 Statement of other comprehensive income 67 Statement of financial position 68 Corporate Directory Statement of changes in equity 70 Statement of cash flows 72 PEOPLE Notes to financial statements 77 Directors Wallace King AO Directors declaration 133 Craig Ransley Glen Lewis Independent Auditor’s Report 134 Shane Kyriakou SECTION 6: ASX ADDITIONAL SHAREHOLDER INFORMATION 141 Craig Lyons Matthew Hunter Additional shareholder information for listed public companies 142 Company Secretary Megan Etcell Chief Executive Officer Danny McCarthy Chief Commercial Officer Nathan Boom Download Chief Financial Officer Celeste van Tonder Scan the QR code to download CORPORATE INFORMATION a PDF of the 2020 TerraCom Registered Office Blair Athol Mine Access Road Limited Annual Report. Clermont, Queensland, 4721 Australia Telephone: +61 7 4983 2038 Contact Address
  • UGL Limited, Roy Hill – Western Australia

    UGL Limited, Roy Hill – Western Australia

    FACT SHEET UGL Limited, Roy Hill – Western Australia Roy Hill Iron Ore mine, the only independent iron ore project with CUSTOMER UGL Limited West Australian majority ownership, is a 655 million tonne per LOCATION Roy Hill, Western Australia annum iron ore mining, rail and port development in the Pilbara DESCRIPTION Penske Australia has supplied, region. Situated approximately 115 kilometres north of Newman, commissioned and managed the Roy Hill is a world-class, low phosphorus iron ore deposit. installation of three diesel-powered containerised gensets from MTU for The operation consists of a conventional open pit mine and wet the diesel power station, as part of processing plant. There is a single rail line for heavy haul cartage Alinta Energy’s power supply to the and a purpose built two-berth iron ore port facility at Port Hedland Roy Hill Iron Ore mine that is capable of stockpiling, screening and exporting mined product. OPERATIONAL DATE August 2015 Roy Hill enlisted the services of Alinta on the two-phase construction project to provide a 121 km 220 kV transmission line and substation with 6 MW diesel back-up power. Alinta partnered with Penske Australia customer UGL Engineering, under a turnkey design and construction contract. CONFIGURATION As part of the project with UGL, Penske Australia has installed and commissioned three state-of-the-art containerised gensets from MTU to deliver critical power solutions for the mine infrastructure. The generators are configured to run in various operational modes including blackstart operation, island operation and grid parallel mode. FEATURES The DP 2870 D5C diesel gensets feature the 20V 4000 G63 engine and deliver 2.5 MW prime power at 50 degrees ambient, critical for the harsh heat and aridity of the Pilbara.
  • Roy Hill Celebrates Historic First Shipment

    Roy Hill Celebrates Historic First Shipment

    10 December 2015 Roy Hill Celebrates Historic First Shipment Hancock Prospecting Pty Ltd and Roy Hill Holdings Pty Ltd are pleased to announce the historic inaugural shipment from Port Hedland of low phosphorous iron ore from the Roy Hill mine on the MV ANANGEL EXPLORER bound for POSCO’s steel mills in South Korea. Mrs Gina Rinehart, Chairman of Hancock and Roy Hill Holdings Pty Ltd, said “The Roy Hill mega project is the culmination of hard-work from the dedicated small executive and technical teams at Hancock and more recently by the entire Roy Hill team.” “Given that the mega Roy Hill Project was a largely greenfield project that carried with it significant risks and considerable cost, it is remarkable that a relatively small company such as Hancock Prospecting has been able to take on and complete a project of this sheer size and complexity.” “The Roy Hill Project has recorded many achievements already and with the first shipment it will also hold one of the fastest construction start-ups of any major greenfield resource project in Australia. This is a considerable achievement, and although the media refer to a contractors date for shipment, it remains that the shipment still occurred ahead of what the partners schedule had planned in the detailed bankable feasibility study.” “The performance on the construction gives great confidence we can achieve performance as a player of international significance in the iron ore industry. To put the scale of the Roy Hill iron ore project into perspective in regard to Australia’s economy, when the mine is operating at its full capacity, Roy Hill will generate export revenue significantly greater than either Australia's lamb and mutton export industry or our annual wine exports.
  • 20130627 D107351

    20130627 D107351

    Ref: O10_0347 Submission to the Economic Regulation Authority – Floor and ceiling costs proposed by The Pilbara Infrastructure (TPI) 11 June 2013 FLOOR AND CEILING COSTS PROPOSED BY THE PILBARA INFRASTRUCTURE (TPI) TABLE OF CONTENTS 1. EXECUTIVE SUMMARY ....................................................................................................................... 2 2. CONTEXT AND PURPOSE ................................................................................................................... 2 1. Context .......................................................................................................................................... 2 2. Purpose........................................................................................................................................... 3 3. REQUIREMENTS OF THE CODE ........................................................................................................... 4 4. COMMENTS ON COSTS PROPOSED BY TPI ....................................................................................... 5 1. TPI failure to provide costs for proposed access ................................................................... 5 2. TPI failure to provide Costing Model or supporting information ......................................... 5 3. Factors to be considered in an assessment of costs ............................................................. 6 5. BROCKMAN’S ASSESSMENT OF COSTS FOR THE ROUTE .................................................................. 7 6. COMPARISON
  • Case Study: Rio Tinto Iron Ore (Pilbara Iron) Centralized Monitoring Solution

    Case Study: Rio Tinto Iron Ore (Pilbara Iron) Centralized Monitoring Solution

    Case Study: Rio Tinto Iron Ore (Pilbara Iron) Centralized Monitoring Solution of 2007, seven mines all linked by the world’s largest privately owned rail network. CHALLENGES To meet the growing demand for their iron ore, particularly from the ever-growing Chinese market, Pilbara Iron were faced with the challenge of increasing production from their mining operations, or more importantly preventing stoppages in production, while maintaining quality. It was recognized that the process control systems at their processing plants were critical assets required to be available and reliable while keeping the plant within the optimal production limits. At the same time the mining industry, like most industries, was and is facing a worldwide shortage of skilled labor to operate and maintain their plants. Rio Tinto Iron Ore Figure 1. Pilbara Iron’s operations has the added burden of very remote mining operations, making it even harder to attract and retain experienced and skilled labor, PROFILE particularly control and process engineers. The mining operations of Rio Tinto Iron Ore (Pilbara Iron) in Australia are located in the Pilbara Region, In order to offer the benefits of living in a a remote outback area in northwest Western modern thriving city, a group of process control Australia, some 1200 kilometers from Perth. Pilbara professionals was established in Perth. Iron has three export port facilities and, by the end The members of this team came from Rio Tinto A WEB-BASED SOLUTION Asset Utilization, a corporate support group To meet this need a centralized monitoring solution established within Rio Tinto at the time to address was established, with data collection performed at performance improvement across all operations the sites and analysis and diagnosis undertaken worldwide, and Pilbara Iron itself.
  • Application by Robe River Mining Co Pty Ltd and Hamersley Iron Pty Ltd

    Application by Robe River Mining Co Pty Ltd and Hamersley Iron Pty Ltd

    AUSTRALIAN COMPETITION TRIBUNAL Applications by Robe River Mining Co Pty Ltd and Hamersley Iron Pty Ltd [2013] ACompT 2 Citation: Applications by Robe River Mining Co Pty Ltd and Hamersley Iron Pty Ltd [2013] ACompT 2 Review from: Treasurer of the Commonwealth of Australia Parties: Robe River Mining Co Pty Ltd, North Mining Ltd, Pilbara Iron Pty Ltd, Rio Tinto Ltd, Mitsui Iron Ore Development Pty Ltd, Nippon Steel Australia Pty Ltd & Sumitomo Metal Australia Pty Ltd Hamersley Iron Pty Ltd, Hamersley Iron-Yandi Pty Ltd, Robe River Mining Co Pty Ltd, North Mining Ltd, Pilbara Iron Pty Ltd, Rio Tinto Ltd, Mitsui Iron Ore Development Pty Ltd, Nippon Steel Australia Pty Ltd & Sumitomo Metal Australia Pty Ltd File numbers: ACT 3 of 2008 ACT 4 of 2008 Tribunal: MANSFIELD J (PRESIDENT) MR R SHOGREN (MEMBER) MR R STEINWALL (MEMBER) Date of judgment: 8 February 2013 Catchwords: ACCESS TO SERVICES – review of Minister’s decisions to declare two services under s 44H of Trade Practices Act 1974 (Cth) – where Minister had failed to consider proper test in applying criterion (b) in s 44H(4) – private profitability test – whether there was material which could satisfy the Tribunal about criterion (b) properly considered ACCESS TO SERVICES – review of Minister’s decisions to declare two services under s 44H of Trade Practices Act 1974 (Cth) – review being conducted after significant passage of time – extent of power of presiding member under s 44K(6) – whether in circumstances presiding member could request National Competition Council to secure experts
  • Pilbara 1 (PIL1 – Chichester Subregion)

    Pilbara 1 (PIL1 – Chichester Subregion)

    Pilbara 1 Pilbara 1 (PIL1 – Chichester subregion) PETER KENDRICK AND NORM MCKENZIE AUGUST 2001 Subregional description and biodiversity arnhemensis and other Critical Weight Range mammals, arid zone populations of Ghost Bat (Macroderma gigas), values Northwestern Long-eared Bat (Nyctophilus bifax daedalus) and Little Northwestern Free-tailed Bat Description and area (Mormopterus loriae cobourgensis) are also significant in the subregion. The Chichester subregion (PIL 1) comprises the northern section of the Pilbara Craton. Undulating Rare Flora: Archaean granite and basalt plains include significant Species of subregional significance include Livistona areas of basaltic ranges. Plains support a shrub steppe alfredii populations in the Chichester escarpment characterised by Acacia inaequilatera over Triodia (Sherlock River drainage). wiseana (formerly Triodia pungens) hummock grasslands, while Eucalyptus leucophloia tree steppes occur on ranges. Centres of endemism: The climate is Semi-desert-tropical and receives 300mm Bioregional endemics include Ningaui timealeyi, an of rainfall annually. Drainage occurs to the north via undescribed Planigale, Dasykaluta rosamondae, numerous rivers (e.g. De Grey, Oakover, Nullagine, Pseudomys chapmani, Pseudantechinus roryi, Diplodactylus Shaw, Yule, Sherlock). Subregional area is 9,044,560ha. savagei, Diplodactylus wombeyi, Delma elegans, Delma pax, Ctenotus rubicundus, Ctenotus affin. robustus, Egernia pilbarensis, Lerista zietzi, Lerista flammicauda, Dominant land use Lerista neander, two or three undescribed taxa within Lerista muelleri, Notoscincus butleri, Varanus pilbarensis, Grazing – native pastures (see Appendix B, key b), Acanthophis wellsi, Demansia rufescens, Ramphotyphlops Aboriginal lands and Reserves, UCL & Crown Reserves, pilbarensis, and Ramphotyphlops ganei. Conservation, and Mining leases. Refugia: Continental Stress Class There are no known true Refugia in PIL1, however it is possible that calcrete aquifers in the upper Oakover Continental Stress Class for PIL1 is 4.
  • Pilbara Iron Ore Project: Blacksmith Subterranean Fauna Surveys

    Pilbara Iron Ore Project: Blacksmith Subterranean Fauna Surveys

    Flinders Mines Ltd Pilbara Iron Ore Project: Blacksmith Subterranean Fauna Surveys Final Report Prepared for Flinders Mines Ltd by Bennelongia Pty Ltd December 2011 Report 2011/137 Bennelongia Pty Ltd Pilbara Iron Ore Project, Blacksmith Subterranean Fauna Surveys Pilbara Iron Ore Project: Blacksmith Subterranean Fauna Surveys Bennelongia Pty Ltd 5 Bishop Street Jolimont WA 6913 www.bennelongia.com.au ACN 124 110 167 December 2011 Report 2011/137 i Bennelongia Pty Ltd Pilbara Iron Ore Project, Blacksmith Subterranean Fauna Surveys Cover photo : Delta deposit in the Blacksmith tenement, Hamersley Range LIMITATION: This report has been prepared for use by the Client and its agents. Bennelongia accepts no liability or responsibility in respect of any use or reliance on the report by any third party. Bennelongia has not attempted to verify the accuracy and completeness of all information supplied by the Client. COPYRIGHT: The document has been prepared to the requirements of the Client. Copyright and any other Intellectual Property associated with the document belong to Bennelongia and may not be reproduced without written permission of the Client or Bennelongia. Client – Flinders Mines Ltd Report Version Prepared by Checked by Submitted to Client Method Date Draft report Vers. 1 Sue Osborne and Stuart Halse email 14.xi.2011 Michael Curran Final report Vers. 2 Sue Osborne Stuart Halse Email 14.xii.2012 K:\Projects\B_FLI_01\report\revised impact areas\report\BEC_Flinders_subfauna_Vers.2_14xii11_FINAL.docx ii Bennelongia Pty Ltd Pilbara Iron Ore Project, Blacksmith Subterranean Fauna Surveys EXECUTIVE SUMMARY Flinders Mines Limited is considering the mining of up to six iron ore deposits within the Blacksmith tenement (E47/882), approximately 60 km north-northwest of the central Pilbara town of Tom Price.
  • West Pilbara Iron Ore Project (WPIOP) the Largest Independent

    West Pilbara Iron Ore Project (WPIOP) the Largest Independent

    West Pilbara Iron Ore Project (WPIOP) Project Overview and Highlights The largest independent undeveloped direct shipping iron ore project in Australia WPIOP Location Map Project Develop a competitive and profitable iron ore Vision export operation. The project is backed by two of the top five steelmakers globally, Baosteel and POSCO, Owners together with AMCI, an international resources investment and trading house, and Aurizon, a major Australian logistics company. Underpinned by ~8,000km2 tenement holding in Geology & the Western Pilbara with total Mineral Resources of ~2.7Bt of predominantly Channel Iron Deposit Resources (CID) type iron ore with current Stage 1 Mineral Resources of ~1.5Bt. Initial production target of 40Mtpa for >20 years Production of mine life with significant upside from Stage 2 deposits. Simple low cost open pit mining using excavators Mining and trucks. Conventional, predominantly dry crush and Processing screen processing at a Central Process Facility (CPF) to produce a blended fines product. New ~240km heavy haul railway to transport Rail product from the CPF to port with each train carrying over 30,000 tonnes. New multi-user deep water port at Anketell Point Port capable of handling large Cape sized (250kt) vessels, expandable to 350Mtpa of exports. West Pilbara Blend (WPB) CID fines product with a target 58.0% Fe product grade. Extensive Market sinter test work undertaken by Asian steelmakers. Feasibility study completed on 40Mtpa Stage 1 Project development. Subsequent project optimisation Status & work
  • Roy Hill, Western Australia (1:250 000 Geological Series Explanatory Notes)

    Roy Hill, Western Australia (1:250 000 Geological Series Explanatory Notes)

    WESTERN AUSTRALIA SECOND EDITION A s. , . -. GEOLOGICAL SURVEY OF WESTERN AUSTRALIA 1:250 000 GEOLOGICAL SERIES-EXPLANATORY NOTES ROY HILL WESTERN AUSTRAL SECOND EDITION SHEET SF50-12 INTERNATIONAL INDEX by A. M. THORNE AND I. M. TYLER Perth. Western Australia 1997 MINISTER FOR MINES The Hon. Norman Moore, MLC ACTING DIRECTOR GENERAL L. C. Ranford DIRECTOR, GEOLOGICAL SURVEY OF WESTERN AUSTRALIA Pietro Guj Copy editor: A. George REFERENCE The recommended reference for this publication is: THORNE, A. M., and TYLER, I. M., 1997, Roy Hill, W.A. (2nd Edition): 1:250 000 Geological Series Explanatory Notes, 22p. ISSN 0729-3720 National Library of Australia Card Number and ISBN 0 7309 6556 2 CONTENTS INTRODUCTION ............................................................................................................... 1 PILBARA CRATON GRANITE-GREENSTONE ROCKS .............................................. 2 Serpentinite and tremolite-chlorite schist (ALL)............................................................... 2 Metamorphosed basalt (Ah) and pyroxene spinifex-textured basalt (Abnz) .................... 3 Metagabbro and hornblende schist (Aog) ....................................................................... 4 Schist derived from igneous rocks (AE) ........................................................................... 4 Banded iron-formation (Aci) ........................................................................................... 5 Metamorphosed granitoid rocks 5 Kurrana Granitoid Complex ( ........................................................................
  • BUY Pilbara Minerals

    BUY Pilbara Minerals

    Metals & Mining For FCA purposes this is a Marketing Communication Pilbara Minerals 2 June 2016 Initiating Coverage BUY Mining a piece of the future Pilbara Minerals is developing the Pilgangoora lithium deposit in Western Australia Current Share Price AUc65 that should be developed into a 2Mt/year mine producing 330kt/year of high grade Target Price AUc85 spodumene. We expect initial capex of A$184 million with opex of A$252/t of Market Capitalisation AUD744.2m concentrate compared to a LOM assumed spodumene price of US$550/t. Lithium is Shares In Issue 1,145m a key component in batteries for both electric vehicles and domestic and industrial RIC/BLBG PLS.ASX/PLS.AU power storage. We value the project at 1.0x our 7% NAV and initiate coverage with Avg. Daily Volume (3M) 10,075,165 Net Cash/(Debt) (m) (06/16F) AUD165.0m a BUY recommendation and a target price of A$0.85/share. Current share price(s) timed at 4:30pm on 31/05/16 ● High grade hard rock lithium in a low risk jurisdiction - PLS owns a 100% interest SharePrice in the high grade Pilgangoora lithium tantalite project in Western Australia, which is 1.2 the world's second largest spodumene-tantalite Resource hosting more than 1Mt of 1 0.8 lithium oxide. The project is located within 120 km from Port Headland near to both rail 0.6 infrastructure and the Great Northern Highway. The project should be developed as an 0.4 open pit mine with annual production of approximately 330kt/year of 6% spodumene 0.2 0 concentrate (48kt/year Lithium Carbonate Equivalent) and 274klb of tantalite over Jun-15 Sep-15 Dec-15 Mar-16 May-16 an initial life of 15 years.