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Development
Plan

PROJECT

Nathan River Resources has developed a staged development plan for the Project. Stage 1 has been completed and Nathan River has commenced the Stage 2 incremental growth. Stage 3 offers further upside with a beneficiation plant able to exploit the full extent of the significant JORC Resource.

STAGE 1 (1.3Mtpa, in production)

  • Simple open pit mining operation with dry crushing and screening to produce at a run rate of 1.3Mtpa of DSO lump and fines product

  • DSO crushing & screening plant installed in October 2020

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  • Haulage on private, sealed haul road the Bing Bong Loadout Facility (“BBLF”), owned and operated by NRR

  • Barges are loaded and transhipped to bulk carriers for export to Asian markets

STAGE 2 (2.2Mtpa, ramping up)

  • Expanded Ore Reserves to 8.4Mt, increasing production run rate to 2.2Mtpa in 2022

  • Additional crushing and screening equipment to support a second processing circuit (3Mtpa)

  • Resource Reserve Growth:

    • Use knowledge of high-grade ore forming processes at Danehill and Zabeel to generate DSO exploration targets       

    • Exploration program commencing in Q3

  • Production Growth:

    • Complete optimisation studies for DMS plant to upgrade low grade lump and fines iron ore (40-55% Fe) into export grade DSO (60% Fe)

    • Studies to be completed in Q4 2021

STAGE 3 (5Mtpa, PFS underway)

  • Large resource base of 279Mt, covers only a portion of the known Sherwin iron formation on NRR tenements

  • Addition of a beneficiation plant to process near-surface iron ore, producing lump, fines and concentrate

  • Complete Stage 3 beneficiation PFS, targeting annual production of 5Mtpa at +60% Fe

  • Studies well advanced with process flowsheet and capex/opex estimates developed

  • 12-month study process for pilot plant test work