Queensland, Australia-based iron ore developers have come together to form the Constance Range Iron Ore Alliance in order to consolidate their respective tenement areas, covering around 1,186 km2, as a single corporate entity. The four founding members are Australia Minerals and Mining Group (AMMG), Viento Group, Icon Resources, and Resolve Geo.
On Wednesday, Ric Dawson, AMMG's managing director, said, "The company now has the critical mass to advance projects to potentially attractive overseas markets, particularly China." He also noted that the memorandum of understanding (MoU) between the four founding partners was the first important step to bring the Constance Range project areas together, and, while entirely non-binding, the MoU allowed the alliance members to work together as a collective force.
The alliance members were now targeting hematite direct shipping ore and magnetite anomalies within the Constance Range area, and had three granted exploration permits and seven pending applications, comprising a tenement area of 1,186 km2.