ASX Round-Up: Spotlight on Elemental Minerals and BC Iron

For investors focused on the resource space, a good way to track companies listed in Australia is to look at the S&P/ASX 300 (INDEXASX:XKO). The index includes all S&P/ASX 200 (INDEXASX:XJO) companies as well as about 100 smaller-cap companies, and as of April 2015 accounted for 74 percent of the Australian equities market. Specifically, the S&P/ASX 300 Metal & Mining (INDEXASX:XMM) division is a great source for companies to watch.

The Investing News Network is thus profiling companies on the S&P/ASX 300 Metal & Mining index. This week’s companies are Elemental Minerals (ASX:ELM) and BC Iron (ASX:BCI).

Advanced-stage mineral exploration and development company Elemental Minerals owns 97 percent of the Sintoukola potash permit in the Republic of Congo. The company is developing three projects within the Sintoukola area. The Kola project has proven sylvinite ore reserves, while the Dougou deposit is a carnallitite deposit with a measured and indicated potash mineral resource of 1.1 billion tonnes. Elemental has drilled two boreholes at the Yangala sylvinite prospect.

As can be seen, the projects are in varying stages of development; however, Elemental’s most recent announcements involve the Dougou deposit. In February, the company revealed the results from a scoping study at the site, noting that it anticipates that production will begin in 2019.

BC Iron is a mining and development company focused on iron projects in Pilbara, Australia. The company has a stake in the Nullagine joint venture, which is co-owned by Fortescue Metals Group (ASX:FMG). Nullagine is a producing iron ore mine, and BC Iron operates the location while Fortescue facilitates the export of mined resources.

BC Iron’s other projects include the near-production Iron Valley project, which is being developed under a mine gate sales agreement, and the Buckland project, which is still under development. The company is working to improve the infrastructure surrounding Buckland for the next stage of development.

Related reading: 

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