South Australia, New South Wales iron-ore explorers form alliance

Several Australian iron-ore explorers have formed an alliance to develop mining infrastructure in South Australia (SA) and New South Wales (NSW), the Braemar Iron Alliance said on Monday.


The Alliance comprises listed companies Carpentaria Exploration, Havilah Resources, Minotaur Exploration, Royal Resources and U3O8 and private companies Sinosteel PepinNini Curnamona Management, Bonython Metals Group and Wentworth Metal Group.


Alliance spokesperson and Minotaur director Andrew Woskett said members saw the potential for 20 to 40 billion tones of mineable deposits throughout the Braemar magnetite formation, which stretches for approximately 250km from Peterborough in SA to Broken Hill in NSW.


"The presence of iron mineralization has been recognized since the 1960s but only in the past few years with the impetus of higher iron ore prices, have explorers actively sought to define the province's resources to the Australian JORC (Joint Ore Reserves Committee) standard," Woskett said in a statement.


"Alliance members are confident in the iron potential for the area, based on extensive drill programs and recent definition of JORC resources," Woskett said.


"The excellent regional potential has encouraged the Alliance members to look towards their future infrastructure needs, both individually and as a group."


According to the Alliance, one of the major infrastructure focuses for the group is a deep water port facility on South Australia's Spencer Gulf, as well as power, water and transport infrastructure throughout the entire Braemar iron province.
(Source:http://news.xinhuanet.com)