Buckland is a 100% owned strategic mine-to-port iron ore development project located in the West Pilbara region. The project comprises proposed mines at Bungaroo South, Kumina and other deposits, and a proposed independent infrastructure solution incorporating a haul road and transhipment port at Cape Preston East. Buckland currently has a total Mineral Resource of 283.3Mt at 56.5% Fe and an Ore Reserve of 134.3Mt at 57.6% Fe (refer here for more details).
A feasibility study was completed in 2014 on an 8Mtpa development case, and all primary approvals are in place for the Bungaroo South mine, road and port. This includes an executed Construction Works Lease and Licence (“CWLL”) with the Pilbara Ports Authority (“PPA”) for a 20Mtpa transhipment port at Cape Preston East for an initial term of 20 years.
BCI’s current focus is on re-defining Buckland Project business case. BCI is actively exploring the recently acquired Kumina tenement package for new iron ore deposits which can support a 15Mtpa development and enhance the product quality of the overall “Buckland Blend”. Kumina is considered highly prospective for iron ore. The western part of Kumina is contiguous with the Australian Premium Iron Joint Venture’s (“APIJV’s”) Kumina Creek and Kumina Creek East deposits, which contain JORC 2004 Mineral Resources of 59Mt at 57.5% Fe and 102Mt at 57.3% Fe respectively. Work is also underway to integrate Bungaroo South, Kumina and the Cape Preston East Port.
BCI plans to form partnerships to fund future feasibility study and construction costs. Discussions are underway with a number a potential partners.
BCI is positioning the Cape Preston East Port as a multi-commodity, multi-user port which is capable of exporting 15Mtpa of Buckland Blend iron ore, 3Mtpa of Mardie salt and 2Mtpa of other products and concentrates. Preliminary designs have been completed at BCI is progressing the Mardie Salt Project (refer here for more details)