The Extension Hill Magnetite Project, which China's Chongqing Iron & Steel Group is developing as its priority project during the eleventh and twelfth five-year plan, is proceeding smoothly and expected to make the first iron ore shipment in 2014 as scheduled. Mr. Zhao Shiqing, Chongqing Iron & Steel general manager said. |
The project is located in 375 km north of Perth and 280 km south east of Geraldton, Western Australia and is Asia Iron Australia's most advanced project. Asia Iron Australia is invested by Chongqing Iron & Steel (60%) and Sinom of Hong Kong (40%) and was approved by Australia's Foreign Investment Review Board (FIRB) in April 2010. Also, the use of Berth 5 at Geraldton Port was approved. 10 million tonnes of high-grade magnetite concentrate production capacity per year are expected.