Australian mineral resources company WPG Resources Ltd has announced that its $3 million prefeasibility study for the development of the Giffen Well
iron ore project in South
Australia is progressing according to plan, and is expected to be completed during the current quarter.
The project will consist of an open pit
iron ore mine and magnetite concentrator at
Giffen Well, and an open pit coal mine and power station at Penrhyn that will supply low cost energy to the
iron ore operation.
13 million mt per year of magnetite
iron ore will be mined to produce 5 million mt of
iron ore concentrate per year with 68.5 percent Fe content. The plant will also produce hematite concentrate in the early years.
Meanwhile, the colliery will produce 400,000 mt per year of sub-bituminous black coal that will be fed to a 90-100 MW mine mouth power station that will produce low cost electric power for use at Giffen Well.