Gindalbie Metals Ltd is an independent Australian iron ore company based in Perth, Western Australia which is developing a portfolio of projects in the State’s Mid West region.
Gindalbie’s core asset is the world-class Karara Iron Ore Project, supported by a growing resource base of Direct Shipping Ore (DSO) hematite in multiple deposits and an extensive pipeline of exploration and growth opportunities within a 1,900km2 tenement position.
Gindalbie has completed a Bankable Feasibility Study on Karara and is working towards an initial start-up phase of 2Mtpa of DSO quality hematite production commencing in 2009 and 8Mtpa of high grade magnetite concentrate commencing in 2010.
“A leading independent Australian iron ore company…”
Gindalbie cemented its position as a substantial emerging Australian iron ore producer in 2006 after securing a landmark 50:50 joint venture with one of China’s largest iron ore miners and steel makers, Anshan Iron and Steel Group Corp (“AnSteel”), to finance and develop the A$1.8 billion Karara Iron Ore Project.
A formal Joint Venture Agreement was signed in September 2007 followed by a Decision to Mine in November 2007 and, in February 2008, a Subscription Agreement confirming the funding arrangements for Karara.
The Company is pursuing an aggressive growth strategy, with a Feasibility Study commenced in April 2008 on increasing the start-up production rate of high grade magnetite concentrate at Karara from 8Mtpa to 12Mtpa.
Aggressive exploration programs are also underway across Gindalbie’s tenements, targeting an increase in both magnetite and hematite resources.