IMX Resources Limited: Cairn Hill Ships Four Millionth Tonne of Ore
PERTH, AUSTRALIA--(Marketwired - July 25, 2013) - IMX Resources Limited (IXR.AX)(IXR.TO)(TSX:IXR.WT) ('IMX' or the 'Company') is pleased to announce that it has today loaded its four millionth tonne of ore from the Cairn Hill Mining Operation, located near Coober Pedy in South Australia. The vessel 'Pegasus', with 76,650 tonnes of cargo, is scheduled to set sail from Port Adelaide to China on 27th July 2013.
Cairn Hill is operated by Termite Resources NL ('Termite'), a joint venture company owned 51% by IMX and 49% by Taifeng Yuanchuang International Development Co. Ltd.
Since late 2011, Termite has consistently produced sufficient ore from Cairn Hill for the shipment of two 75,000 tonne shipments per month.
Termite's innovative approach to transport logistics involves railing ore to Port Adelaide in purpose built shipping containers, which are stacked and stored at the port, then tipped into the hold of the ship via a rotating container ("rotainer") system. The containers are then loaded back onto the train and returned to the mine for reloading. IMX was the first Australian iron ore company to operate the rotainer system, which is now in use at a number of other sites around the country.
Timeline of Shipping Milestones |
Date | Milestone |
19th December 2010 | Commenced Shipping |
19th October 2011 | One millionth tonne shipped |
11th May 2012 | Two millionth tonne shipped |
18th December 2012 | Three millionth tonne shipped |
27th July 2013 | Four millionth tonne shipped |
Cairn Hill General Manager Simon Parsons commented, "We are consistently producing one million tonnes of ore every seven months and continuing to operate above nameplate capacity in a safe manner. This is a tremendous achievement for the dedicated and hardworking team of employees and contractors at Cairn Hill and everyone who works along our logistics chain from the mine to the port".
NEIL MEADOWS | |
Managing Director |
About IMX Resources Limited
IMX Resources Limited is an Australian based mining and base and precious metals exploration company, listed on the Australian Securities Exchange ('ASX') and Toronto Stock Exchange, with projects located in Australia, Africa and North America.
In Africa, IMX owns and operates the highly prospective Nachingwea Exploration Project in south -eastern Tanzania, which includes the potentially word-class Ntaka Hill Nickel Sulphide project, located approximately 250km west of the port town of Mtwara. Nachingwea is highly prospective for nickel and copper sulphide, gold and graphite mineralisation. The Ntaka Hill Nickel Sulphide Project is one of the world's best un-developed nickel sulphide projects and has the potential to produce a very clean, high quality premium nickel concentrate.
In Australia, IMX operates and owns 51% of the Cairn Hill Mining Operation, located 55 kilometres south -east of Coober Pedy in South Australia, where it produces a premium coarse-grained magnetite-copper-gold DSO product at a rate of 1.8Mtpa.
IMX is actively developing the Mt Woods Magnetite Project on the highly prospective Mt Woods Inlier in South Australia. IMX currently has a JORC Inferred Resource of 569Mt @ 27% Fe at the Snaefell Magnetite Deposit and a Global Exploration Target of between 900Mt-1,200Mt @ 20-32% Fe elsewhere in the project. Studies indicate that coarse grained concentrates that could be produced at Snaefell, have the potential to attract a significant price premium. The Global Exploration Target tonnage quantity and grades estimates are conceptual in nature only. These figures are not a resource estimate as defined by the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves or Canadian National Instrument 43-101, as insufficient exploration has been conducted to define a Mineral Resource and it is uncertain if further exploration will result in the target being delineated as a Mineral Resource.
IMX has a joint venture with OZ Minerals Limited ('OZ Minerals'), the Mt Woods Copper-Gold Joint Venture Project, to explore the Mt Woods tenements for copper and gold. OZ Minerals is spending a minimum of AUD 20 million for a 51% interest in the non-iron rights, with IMX retaining a 49% interest in the non-iron rights and 100% of the iron ore rights.
IMX owns 25.65% of Uranex (UNX.AX), an exploration company with prospects in Tanzania and Australia.
Visit: www.imxresources.com.au
ABN 67 009 129 560
