Bungaroo South

Bungaroo South and its satellite deposits have 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 with the Pilbara Ports Authority for a 20Mtpa transhipment port at Cape Preston East for an initial term of 20 years.

Kumina

BCI agreed to sell the Kumina tenements to Mineral Resources Limited in October 2018 for total cash consideration of A$35M. A$27M was received upon completion, with a further A$4M due upon first export of iron ore from Kumina and A$4M due 12 months after first export.