Rio Tinto’s iron ore reserves relating to the three Pilabara iron ore deposits in Western Australia have increased.
This update is part of the company’s annual Ore Reserves and Mineral Resources update, released as part of its 2015 Annual Report, which is reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2012 (JORC Code) and Australian Securities Exchange (ASX) listing rules.
As of the end of 2015, the estimated iron ore reserves increased by 309 million t after depletion from mining.
The increases in iron ore have been delivered as part of the ongoing resource development drilling program designed to maintain ore reserves coverage ahead of mining depletion rates. Increases in Ore Reserves are reported for:
- Yandicoogina (Pisolite ore), which has increased from 247 million t to 642 million t, following the completion of feasibility level studies within the Oxbow portion of the channel and prefeasibility level studies for the Billiard South portion of the channel.
- Brockman 2 (Brockman ore), which has increased from 62 million t to 93 million t due to additional drilling, modelling and mine planning studies within the existing operations.
- West Angelas (Marra Mamba ore), which has increased from 185 million t to 209 million t due to the first time reporting of the Deposit F deposit following the completion of a prefeasibility level study.
Ore Reserves are quoted on a 100% basis. A full update of Ore Reserves and Mineral Resources is provided in the company's 2015 annual report.
Read the article online at: https://www.drybulkmagazine.com/dry-bulk/17032016/rio-tintos-pilbara-ore-reserves-see-increase/