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Sino-Australia Iron Ore Project Was Putted into Operation

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CITIC Pacific Mining announced that Sino-Australian iron ore production line has been completed and was putted into operation, the export volume of iron ore concentrate used in natural air blast furnace this year will exceed 10 million tons.

Although this is still lower than the project's design capacity of 24 million ton annually, CITIC Pacific Mining said at the London Mining and Investment Summit in 2016 that the production of magnetite is more costly than the direct shipment of hematite after mining . At present our production is still lower than the designed capacity. As a result, the current cost per ton is high. We need to increase production as quickly as possible to achieve economies of scale and thus reduce costs. Sino-Australia iron ore construction costs more than 10 billion US dollars.

CITIC Pacific Mining is building and operating a world-class magnetite project as Sino-Australian Iron Ore Project in Cape Preston, 100 kilometers south-west of Karratha, Pilbara, Western Australia. The project is the largest magnetite mining and mineral processing projects using nickel laterite in Australia. The project will add value to Western Australia's economy in terms of job opportunities, community cooperation and transnational technology transfer, while minimizing the impact of project development on the environment.

The Sino-Australia Iron Ore Project is one of China's largest investment projects in Australia. The Australian iron ore project is expected to generate about $ 75 billion in Australian economy and $ 3.3 billion in royalties paid directly to the Western Australian government.

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