Amur invests in Australian iron ore project, shipping to start in Oct

Wednesday, 26 August 2020 13:42:20 (GMT+3)   |   Istanbul
       

Amur Minerals Corporation, which is focused on nickel-copper sulphide mineral exploration and resource development in Russia’s Far East, has announced that it will invest $4.67 million in Nathan River Resources (NRR) which owns the Roper Bar iron ore project located in Northern Australia.    

The Roper Bar project allows for the rapid restart of mining and shipping operations as substantial stockpiles of high-quality iron ore are currently ready for loading and transport to the Chinese market. The project has 194,000 mt of iron ore stockpiles ready to be shipped starting from October. Meanwhile, the long-term offtake agreement with international commodities producer and trader Glencore provides Amur with a reliable partner who has substantial imports.

“Iron ore has been performing very well with demand out of China expected to remain strong as continued stimulus measures are taken by the Chinese and other governments,” Amur said in its statement.

The project has reserves of 446 million mt of iron ore with 39.9 percent Fe content and 4.76 million mt of iron ore with 60.1 percent Fe content.


Most Recent Related Articles

BHP Billiton’s iron ore output up in July-Sept, likely to fall in Oct-Dec

Rio Tinto’s iron ore output rises in January-September

Fenix signs binding iron ore offtake agreement with Sinosteel

Iron ore exports via Port Hedland down 1.0 percent in September from August

Australia to face lower iron ore earnings from 2021 due to falling prices