Western Australian iron ore mine placed into care and maintenance
Post Date: 07 Feb 2015 Viewed: 329
The owner of the mine, Kimberley Metals Group (KMG), said current iron ore prices, market conditions and exchange rates resulted in the decision.
The site, 165 kilometres south of Wyndham, began operations in 2011 and has shipped 6.2 million tonnes of high grade ore to China since.
KMG has completed the mining of the Ridges high-grade reserve. However, its other Matsu deposit only received mining tenements months ago.
KMG said it would continue to assess its options of developing the high-grade Matsu deposit and lower grade resources at the Ridges reserve.
Processing operations will continue at the site during February, while shipments from existing stockpiles are completed.