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Minerals and mining stories

Major mining investment

Good news for Tasmania’s mining industry with Grange Resources committing $10 million to investigate the underground mining of iron ore at Savage River, on the west coast. A move into underground mining would be a major change, with open cut mining carried out at Savage River for the past fifty years. It could also mean a significant jobs boost. A spokesperson for Grange Resources – which is headquartered in Burnie – said while it was too early to talk about job numbers, “any future development, if feasible, would involve significant investment and create employment, but the feasibility work needs to be concluded in the first instance.” Grange Resources said the $10 million investment would fund the first stage of a study into underground mining at Savage River’s North Pit, and this would help define the extent of the ore body. Grange Resources made an after-tax profit of more than $60m in 2017, and also has plans to spend $20m on a refurbishment program for its mining truck fleet in the next two years. Vast magnetite deposits were first discovered at Savage river in 1877.

11 April 2018, Edition 193

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