On September 5, Autralia-based iron ore exploration and development company Sherwin Iron Limited (Sherwin Iron), which owns 100 percent of the 4,000 km2 Roper River iron ore project in Australia's Northern Territory, announced a substantial increase in the resource estimate for its iron ore project, with the overall tonnage of hematite mineralization increasing by 58 percent to 168 million metric tons at 44.7 percent Fe.
Sherwin Iron is an emerging iron ore company which has a current resource of 107 million mt from its initial exploration activities with an exploration target of 400-500 million mt of 40-48 percent Fe from two of its five tenement areas.