Description
The Ridges Iron Ore Project is situated in the Far North of Western Australia, 165 kilometres by road south of Wyndham adjacent to the Great Northern Highway. The resource is located along the top of a ridge over an area approximately 200m wide x 3km long.
The iron ore outcrops at surface and the ore body thickness varies from 3-15m deep. The project had a confirmed mine life of four years based on a production rate of 1.5 Mt per annum of high grade direct shipping ore (DSO), with a high probability of increased production through future exploration success at Matsu and the beneficiation of lower grade ore at Ridges.
Successful Complete project
KMG commenced shipping iron ore in July 2011 through its own private export facility located at Wyndham and placed the mine onto care and maintenance in February 2015 once the high grade DSO reserve was depleted. As of February 2015, KMG had exported approximately 6 million tonnes of iron ore from Ridges.
The Matsu project is a nearby satellite deposit to Ridges. Matsu is well advanced with mining leases and associated tenements having been granted in 2014. The Company is preparing submissions to obtain the necessary approvals to allow mining to commence subject to prevailing iron ore prices, market conditions and exchange rates.
The substantial lower grade resources remaining at Ridges present significant opportunity for exploitation as a specialised provider of managed warehousing logistics and international water freight of cargo – to and from China, with the aim to drive strong additional revenue figures to KMG within the next three years of operation.
Under shipping services, KMG will operate in the water freight services between domestic ports and international sea freight transport services between domestic and international ports. The main activity of the industry is the transport of exports, especially of bulk iron ore commodities. In order to reach its goals and objectives, KMG is looking into investing in assets, resources and high-quality personnel.;