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The largest iron ore mine that Australia’s Northern Territory has seen in 20 years opened on Monday, Herald Sun News reported.
The largest iron ore mine that Australia’s Northern Territory has seen in 20 years opened on Monday, Herald Sun News reported. Located about 600 kms southeast of Darwin, the mine is expected to produce up to 3 million tonnes of ore a year for the next 8 to 12 years.
As quoted in the market news:
Western Desert Resources (ASX:WDR), the owner of the Roper Bar mine, is now the Territory’s largest independently owned company listed on the Australian Stock Exchange, with an estimated market value of about $350 million.
The company has spent $180 million on major infrastructure, including building a 165km road with ten new bridges to transport ore from the mine to Bing Bong Port.
Read the full article on Herald Sun News here