IGO to record impairment against nickel assets in strategy shift
IGO has been undertaking a strategic review in an attempt to revaluate its resources.
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…)
