Ridley Magnetite Project

The world-class Ridley Magnetite Project, a 2 Billion-tonne magnetite resource, is strategically located within the Pardoo project area and is 100% owned by Atlas. The Ridley resource consists of banded iron formation (BIF) which forms part of the Ridley Range, with an average in-situ resource grade of 36.5% Fe. The resource was estimated by CSA Global consultants.

Figure 1: A schematic view of the Ridley topography looking west, with a potential pit design superimposed onto the Ridley Range. The Bobby and Alice DSO pits are shown in the right foreground and background, respectively.

Pre-Feasibility Study

In April 2009, Atlas announced the findings of a pre-feasibility study (PFS) on the Ridley Magnetite Project. This study, which was the culmination of work by a number of sub-consultants under the supervision of Engenium, sought optimal solutions for mining, crushing, ore delivery, ore processing, waste and tailings storage, power generation, sources of process water, concentrate delivery and export.

The PFS concluded that a large conventional truck-and-shovel open pit operation mining approximately 48Mtpa of magnetite ore would produce 15Mtpa of concentrate for export. Ore will be crushed in-pit and both ore and waste will be hauled to the natural surface by conveyors, with rock waste and tailings encapsulated together in a staged waste storage facility. The ore will be processed by multiple stage autogenous grinding followed by magnetic separation, with an end product of 80% passing 30 micron, containing 68.3% Fe and 4.3% SiO2.

For additional details regarding the Ridley Magnetite Project PFS outcomes, please refer to the ASX announcement of 14 April 2009.

Any references to reserves current resources should be read in conjunction with the Competent Person Statements in the Resources section of this website.


Figure 2: Ridley Magnetite Project Location Plan