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Australian Bulk Minerals (ABM) operates an iron ore mine and produces Iron Ore Pellets and Concentrate at its integrated Savage River and Port Latta facilities – collectively known as the Savage River Project – in Tasmania, Australia.

The Savage River mine covers approximately 2,400 hectares and will complete its current operation in 2009.

Current work on a Feasibility Study for Mine Life Expansion has defined a Mineral Resource of over 280 million tonnes and defined Ore Reserves of more than 55 million tonnes of iron ore, which will allow more than 12 years of production. ABM expects to produce approximately 2.5 million tonnes per annum (tpa) of Iron Ore Pellets. ABM has existing contracts which finalise in 2009 with steel producers in Australia and Asia and confidently expects to sell up to 100% of its Iron Ore Pellet production.

ABM Assets

In addition to a 30-year mining lease, ABM’s assets include:

• Recently modernised and refurbished mining facilities at the open cut Savage River mine including two primary crushers, an overland conveyor and concentrator plant;
• A pipeline for transporting iron ore concentrate slurry a distance of approximately 83 km from the mine; and
• An integrated pelletising plant and dedicated port facilities located on the north west coast of Tasmania at Port Latta.

Company Structure

ABM is a subsidiary of Stemcor Pellets Ltd. which is a London based company involved in the international distribution of steel and raw materials. In 2001 Stemcor celebrated its 50th anniversary.

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