Buckland is a strategic mine-to-port iron ore development project located in the West Pilbara region. The project comprises a proposed mine at Bungaroo South and a proposed infrastructure solution incorporating a private haul road linking the mine to a transhipment port at Cape Preston East. The project 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 has been completed and all primary approvals are in place, including 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. The Company is aiming to achieve a construction-ready status for the Buckland Project during the June 2017 quarter.
Feasibility and optimisation studies have been completed for an 8Mtpa development case and preliminary studies have been completed for an expanded operation which utilises BC Iron’s potential Cape Preston East capacity of 20Mtpa.
BC Iron’s infrastructure solution could potentially accommodate throughput greater than 20Mtpa and the CWLL provides BC Iron with the right to expand its leased area and extend the term (subject to the satisfaction of certain conditions), which could facilitate this.
The extensive work completed to date and nature of the relatively few remaining approvals are expected to result in the Buckland Project achieving construction ready status during the June 2017 quarter.
The Bungaroo South deposit is contiguous with the Australian Premium Iron Joint Venture’s Buckland Hills deposit. The parties have completed a joint study which confirmed the deposits can be mined in a co-operative manner, with increased mineable inventory available to both parties.
BC Iron is in preliminary discussions with a number of potential partners for the Buckland Project on a range of concepts, including funding solutions, operating solutions, joint ventures and the provision of third party infrastructure services.