Grange Resources are Australia’s leading magnetite producer

Grange Resources Limited owns and operates Australia’s largest integrated iron ore mining and pellet production business located in the north west region of Tasmania. The Savage River magnetite iron ore mine, 100km southwest of the city of Burnie, is a long life mining asset set to continue operation to 2023 with current reserves estimated to extend the mine life to 2028. At Port Latta, 70kms northwest of Burnie, is Grange Resources’ own pellet plant and port facility producing approximately 2.3 million tonnes of premium quality iron ore pellets annually with plans to increase annual production to 2.7 million tonnes by 2010. Long term supply contracts see these pellets shipped to major steel producers in Australia and Asia.

As well as this profitable magnetite operation, Grange Resources is developing a world class magnetite development project at Southdown near Albany in Western Australia. The Southdown development project is forecast to supply nearly 3 times the amount of ore iron from Savage River, being 6.6 million tonnes of premium magnetite concentrate annually. Plans are to ship this concentrate to a dedicated pelletising facility to be built at a suitable location.

Grange Resources Limited is Australia’s leading magnetite producer and the only commercial producer of magnetite pellets in Australia and combines both mining and pellet production expertise. Development of Southdown will see Grange Resources becoming one of the major suppliers of quality iron ore pellets in the region.

Grange Resources Limited is a company limited by shares that is incorporated and domiciled in Australia. Grange Resources Limited and the entities that it controls are outlined in the following illustration of the group’s corporate structure.

The principal activities within the group are:

• Operation of the Savage River Magnetite operation in Tasmania;
• Development of the Southdown Magnetite Project near Albany, Western Australia;
• Royalty income from production of gold;
• Minerals exploration and evaluation;
• Investment of cash assets; and
• Administration of the group.