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Gindalbie Metals has announced the award of the magnetite ore mining contract for the Karara iron ore project in Western Australia to Downer EDI Mining. With a total estimated value of approximately A$570 million over a duration of six years, the contract is one of the largest single operational contracts for the Karara project. The contract, which includes provision of drill & blast and load & haul services, is based on a mining rate of approximately 30 Mt/y. This will comprise approximately 20 Mt/y of ore and 10Mt/y of waste for the production of 8 Mt/y of dry magnetite concentrate, the Stage 1 production rate at Karara. (more…)
