India’s state-run miner NMDC Limited is looking at exploration and development of iron ore mines at Mount Bevan in Western Australia, a company official said on Wednesday, July 13.
Along with exploration of iron ore, the company will also be looking at other minerals like copper, lithium and tungsten in the Mount Bevan area, he said.
The project in Mount Bevan could involve investments to the tune of $3-4 billion in a phased manner if projects for development of minerals were found feasible in the area, the official said.
Towards this, Perth-based Legacy Iron Ore Company Limited, an Australian subsidiary of NMDC Limited, has entered into a joint venture with prospecting company Hancock.
Hancock Prospecting, controlled by Gina Rinehart, will pay an initial A$9 million to earn a stake in the Mount Bevan iron ore project to be owned by Hawthorn Resources and Legacy Minerals.
“We are right now in the prospecting stages and investments are being made by the new partner, Hancock. We are looking at two to three years to carry out prospecting studies. Development and exploration of these mines can start maybe four years from now,” Sumit Deb, chairman and managing director of NMDC, said in a statement.