A JOINT venture between Gindalbie Metals and major Chinese steel and iron ore company Ansteel is the latest to break the total dominance of BHP Billiton and Rio Tinto in the Western Australian iron ore business.
The Karara iron ore project is 225km east of Geraldton port in Western Australia.
According to Gindalbie's managing director Garret Dixon, the Karara iron ore project is the first major mine development in the midwest and is one of the few magnetite projects to be developed in Australia.
Gindalbie expects the project to initially produce 10 million tpa by 2011 which will comprise of 8 Mtpa of high-grade magnetite concentrate and 2 Mtpa of direct shipping ore (DSO).
Gindalbie claims the Karara iron ore project will have potential to produce more than 30 Mtpa over 30 years.
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