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BC Iron Limited is a new iron ore producing and exporting company with key assets in the Pilbara region of Western Australia.
The Company’s core focus is the Nullagine Iron Ore Project (NJV), a 75/25 joint venture with Fortescue Metals Group Limited that currently hosts a Probable Ore Reserve of 41.0Mt at 57.1% Fe from within a mineral resource of 108.7Mt at 54.1% Fe. Importantly, the iron ore occurs at surface, resulting in a simple mining and crushing process and low stripping ratios.
The NJV uses Fortescue’s infrastructure at Christmas Creek, 50km south of the mine, to rail its ore to Port Hedland from where it is then shipped directly to customers overseas. Since May 2012, the NJV has been operating at a 5Mtpa production rate and is expected to reach a nameplate production rate of 6Mtpa during Q4 FY2013.