The Western Australian Minister for Environment and Youth has approved the Balmoral South Iron Ore Project and released amended Ministerial Conditions for the implementation of the Project. The Balmoral South Iron Ore Project now has key environmental approval to mine up to 2 billion tonnes of magnetite iron ore at a rate of up to 80 million tonnes per annum and produce pellets and concentrate for export at a rate of up to 24 million tonnes per annum over a projected 25 year mine life. Australasian Resources Ltd through its 100% subsidiary, International Minerals Pty Ltd currently has contractual rights from the tenement holder, Mineralogy Pty Ltd for the mining and processing of one billion tonnes of magnetite iron ore to produce 300 million tonnes of high quality product over a 25 year period.
