Grange revisiting Southdown development

GRANGE Resources has appointed PCF Capital to assist with securing a strategic investor in the Southdown magnetite project in Western Australia’s South West.

Grange revisiting Southdown development Grange revisiting Southdown development Grange revisiting Southdown development Grange revisiting Southdown development Grange revisiting Southdown development

Southdown is a joint venture between Grange (70%) and SRT Australia (30%), which is jointly owned by Japan’s Sojitz Corporation and Kobe Steel.

Grange went cold on Southdown in 2013, with the sharp decline of the iron ore market in 2015 ensuring it got no attention.

The company had been looking for a partner back in 2013 but has stepped up its efforts due to the changing market conditions.

The premium currently paid for higher grade ores makes the project look more attractive in the current market.

Southdown has a resource of 1.2 billion tonnes at 33.7% Davis tube recovery and reserves of 388 million tonnes at 35.6% DTR.

Previously feasibility stud...