Basic HTML Version
mining and transporting the ore via a 55-kilometre
private haul road to Fortescue’s railhead at
Christmas Creek. From thereon, Fortescue is
contracted by BC Iron to transport the ore to Port
Hedland by rail where it is then shipped directly to
customers overseas.
In late January 2011, BC Iron achieved a
significant and historic milestone by successfully
becoming the first junior mining company to
access and utilise third party rail owned by a major
company in the Pilbara, which was quickly followed
by First Ore on Ship on 24 February 2011. BC Iron
is the third company to use Fortescue’s Herb Elliott
Port to export iron ore from Port Hedland, showing
third party access to rail and port infrastructure is
a reality.
By the end of June 2011, the Nullagine iron ore
joint venture had mined almost 600,000 tonnes and
exported more than 250,000 tonnes. It is expected
to increase production to an interim rate of more
than 3 million tonnes per annum (Mtpa) by late
2011 before stepping the rate up again to 5Mtpa
during the first half of the 2012 calendar year.
“Having ticked off a series of significant
milestones recently that would not have been
possible without the infrastructure support from
Fortescue, the Nullagine iron ore project is now
entering an important expansion period as we ramp
up production levels. The increase in the production
rate will translate into strong cash flows that will
provide us with the ability to consider other long-
term growth projects for the company,” said
BC Iron’s Managing Director, Mike Young.
2011
TOREMEMBER
MIKE YOUNG
MANAGING DIRECTOR
BC IRON LTD
Developing the high-grade Dargues
Reef gold mine in the richest historic
goldfield in New South Wales
JORC Resource 1.62mt @ 6.3g/t
Au for 327,300oz of gold and
142,000oz of silver
Near-mine and regional exploration
ongoing targeting +500,000oz
Experienced management and
enthusiastic team opening up a new
gold province in NSW
Agoldenopportunity
in themaking
FOR BC IRON
A YEAR
011 has been a transformational
and historic year for BC Iron.
In late February 2011, the company
joined the ranks of a select group
of Australian iron ore producers
in the Pilbara region of Western Australia. This is
a remarkable accomplishment for a company that
only listed on the ASX just over four years earlier.
BC Iron’s core focus is the Nullagine iron
ore project, which is a 50/50 joint venture with
Fortescue Metals Group. Fortescue is the world’s
fourth largest iron ore producer and has worked
closely with BC Iron ever since the agreement was
signed in 2009. BC Iron manages and operates the
Nullagine iron ore project and is responsible for
2