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Braemar iron alliance chinese investment congress 7 july 2011 translation
- 1. Mining Infrastructure Investment opportuni3es on the Braemar Iron Forma3on A Presenta3on from the Braemar Iron Alliance Australian Resources Chinese Investment Conference, Adelaide 7 July 2011 Andrew WoskeG, Spokesman for the Braemar Iron Alliance Managing Director, Minotaur Explora3on Ltd (ASX: MEP)
- 2. Braemar Braemar 2011 7 7 Braemar Andrew Woskett Minotaur (ASX: MEP)
- 3. Cautionary Statements This presenta,on has been prepared by the management of Minotaur Explora,on Limited (MEP) on behalf of the Braemar Iron Alliance, an unincorporated body, for the general benefit of analysts and industry and does not cons,tute specific advice to any par,cular party or persons. Informa,on herein is based on publicly available informa,on, internally developed data and other sources. Where an opinion, projec,on or forward looking statement is expressed in this presenta,on, it is based on the assump,ons and limita,ons men,oned herein and is an expression of present opinion only. No warran,es or representa,ons are made or implied as to origin, validity, accuracy, completeness, currency or reliability of the informa,on. MEP and Alliance members specifically disclaim and exclude all liability (to the extent permiIed by law) for losses, claims, damages, demands, costs and expenses of whatever nature arising in any way out of or in connec,on with the informa,on, its accuracy, completeness or by reason of reliance by any person on any of it. Where MEP or the Alliance expresses or implies an expecta,on or belief as to the success of future explora,on and the economic viability of future project evalua,ons, such expecta,on or belief is expressed in good faith and is believed to have a reasonable basis. However, such projected outcomes are subject to risks, uncertain,es and other factors which could cause actual results to differ materially from projected future results. Such risks include, but are not limited to, explora,on success, metal price vola,lity, changes to current mineral resource es,mates or targets, changes to assump,ons for capital and opera,ng costs as well as poli,cal and opera,onal risks and government regulatory outcomes. MEP and the Alliance disclaim any obliga,on to advise any person if it or they become aware of any inaccuracy in or omission from any forecast or to update such forecast. The following presentation is a visualisation of possible infrastructure solutions to support potential future iron ore mine developments. Locations nominated for the provision of infrastructure facilities are for illustration purposes only and should not be considered viable technical, economic, environmental, social or State solutions for any future requirements
- 4. Braemar Minotaur (MEP) , MEP MEP MEP MEP
- 5. Braemar Iron Formation: Location 2 new maps to be inserted here
- 6. Braemar 2 new maps to be inserted here
- 7. Braemar Iron: The Investment background 1. The Braemar Iron Alliance: members and objectives 2. The Braemar Iron Formation: Australia’s next big Iron ore province 3. Mining development scenarios 4. Infrastructure needs: § Water § Power § Rail haulage of concentrates and lump ore § Concentrate Slurry transfer § Port § Sea Freight 5. Investment opportunities
- 8. Braemar : 1. Braemar : 2. Braemar : § § § § § §
- 9. Braemar Iron Alliance The Braemar Iron Alliance comprises: The Braemar Iron Alliance will: Bonython Metals Group (private) Define and articulate the demand case to Carpentaria Exploration (ASX: CAP) governments and infrastructure investors Havilah Resources (ASX: HAV) for coordinated common user infrastructure Minotaur Exploration (ASX: MEP) Royal Resources (ASX: RRL) to suit the needs of the iron ore mining Sinosteel PepinNini JV (SPCM) industry along the Braemar Iron Formation
- 10. Braemar Braemar Braemar Bonython ( ) Carpentaria (ASX: CAP) Havilah (ASX: HAV) Minotaur (ASX: MEP) Braemar Royal (ASX: RRL) Sinosteel PepinNini (SPCM)
- 11. Braemar Iron: Australia’s next big Iron province This presentation is based on a range of views held and assumptions made by members of the Braemar Iron Alliance, none of which are yet supported by definitive feasibility studies into potential development of mineral resources. The integrated, multi-user infrastructure facilities envisaged herein are hypothetical in nature and scope and there can be no level of certainty that this or any concept may eventuate The term "Explora(on Target” used herein should not be misconstrued as an es3mate of Mineral Resources and Reserves as defined by the JORC Code (2004), and the term has not been used in that context. It is uncertain if further explora3on will result in the determina3on of a Mineral Resource. Refer Cl 18 of the JORC Code (2004).
- 12. Braemar : Braemar JORC 2004 JORC (2004) Cl 18
- 13. Braemar Iron: Australia’s next big Iron province The Braemar Iron Formation is a regionally extensive sequence of magnetised sedimentary siltstones, with pervasive beds of magnetite mineralisation, often up to 300m thick, stretching over a distance exceeding 200km, as shown in red on the Total Magnetic Image below. Linear strike length of the tightly folded magnetised siltstone layers is well over 300km. 400km The Braemar Iron Alliance "Explora(on Target” across the Braemar Iron Forma3on is for 25 – 50 billion tonnes of the magne3te form of iron
- 14. Braemar : Braemar 300 200 300 400km Braemar Braemar 250 500
- 15. Braemar Iron: resource development activity ² Iron mineralisation stretches for over 200km from SW of Broken Hill to Peterborough in SA ² The formation straddles the heavy duty E-W rail link to Port Pirie on Upper Spencer Gulf
- 16. Braemar ² Broken Peterborough 200 ² Upper Spencer Pirie
- 17. Braemar Iron: the potential mining scale ² Alliance members foresee potential for up to 50 billion tonnes of magnetite iron resources to be defined through exploration over the next decade (refer ‘Exploration Target’ disclaimer on earlier slide) ² with scope for say 5 pits each mining 50 million tonnes of ore p.a. and beneficiating around 10Mtpa of concentrate each ² for total annualised output of ~50Mtpa of blast furnace quality magnetite concentrates grading 65% - 70% Fe, exceptionally low in impurities ² and with a foreseeable 100 year life of mining across the Braemar Iron Formation
- 18. Braemar : ² 500 ² 5 5000 1000 ² 5000 65% 70% ² Braemar 100
- 19. Braemar Iron: Water for 25Mtpa concentrate output Water Supply scenario: ๏ magnetite processing and magnetic recovery circuits use vast amounts of clean water ๏ process circuits will consume ~50Gl per year (50,000 Mega litres pa or 135 Mega litres per day) ๏ A Desalination plant will be required on Spencer Gulf ๏ 350km transfer pipeline, 1m diameter, plus 3 pump stations to deliver water to process facilities (BHPB s proposed Desalination facility for Olympic Dam’s new mine is to supply an additional 200 Ml/day from Port Bonython area in Upper Spencer Gulf) CITIC Desalination Plant Feb 2011 Proposed Olympic Dam Expansion Desalina3on Plant, Point Lowly, 200Ml per day capacity photo sourced from www.citicpacificmining.com/en/news/progress-images Source: ODX EIS p136-‐154, Fig 5.32
- 20. Braemar : : ๏ ๏ ~50Gl ( 50,000 Mega 135 Mega ) ๏ Spencer ๏ 350 BHPB Olympic Dam 200MI Upper Spencer Bonython CITIC Desalination Plant Feb 2011 Proposed Olympic Dam Expansion Desalina3on Plant, Point Lowly, 200Ml per day capacity photo sourced from www.citicpacificmining.com/en/news/progress-images Source: ODX EIS p136-‐154, Fig 5.32
- 21. Braemar Iron: Power for 25Mtpa concentrate output Power Supply scenario: ๏ power demand of 500MW for 5 mines (Olympic Dam’s new mine requires additional 650MW of power generation) ๏ consuming 3,000 GWh pa (Olympic Dam new mine to consume additional 4,400 GWh pa) ๏ Potential for renewable power supplies from just north of the Braemar Iron Formation graphics sourced from www.petratherm.com.au/expmodel.html ๏ potential for geothermal energy from shallow ‘hot rocks’ nearby at Petratherm s Paralana project ๏ a meshed 275kV transmission NEM network between Paralana-Port Augusta-Broken Hill, supplying 500MW into grid ๏ total 1,000km of new HV transmission network Disclosure: MEP holds an economic interest in Petratherm (ASX: PTR)
- 22. Braemar : ๏ 500MW (Olympic Dam 650MW ) ๏ 3,000 GWh (Olympic Dam 4,400 GWh ) ๏ Braemar www.petratherm.com.au/expmodel.html ๏ Petratherm Paralana ๏ Paralana Augusta Broken 275kV NEM 500MW ๏ 1,000 HV MEP Petratherm (ASX:PTR)
- 23. Braemar Iron: Transporting iron products to Port ๏ Rail: • Main continental E-W standard gauge rail line runs right through the Braemar Iron Formation • Deposits are a 150km - 300km rail trip to Port Pirie where a Pellet Plant could be established • rail line to be upgraded in 2012 • existing spare line capacity of 10Mtpa • rail access to each mine requires a 35km spur’ • ‘balloon loop required at each mine for train turn around and 24 hour loading/unloading • For 25Mtpa ore haul capacity, need; • 9 train sets each comprising 5 x 4,000hp Traction locomotives & 162 wagons • 1990 train trips per year • 5 hour load/unload turnaround time (max) • line duplication needed to provide sufficient train paths beyond 10Mtpa • need significant stockpile hardstand and negative pressure storage sheds at Port or Pellet plant
- 24. Braemar ๏ • Braemar • Pirie 150 – 300 Pirie • 2012 • 1000 • 35 • 24 • 2500 • 9 5 x 4,000hp 162 • 1990 • 5 • 1000 •
- 25. Braemar Iron: Concentrate transfer to Port ๏ Slurry Pipeline: • Slurry transfer is a cost effective alternative to rail haulage for a long-term mining project • Slurry transfer can be used for concentrate movements from mine to port • we envisage a 300km long buried pipeline to a Pellet plant near Port Pirie or 380km to a deep water port location • 25Mtpa requires a 600mm diameter Concentrate delivery pipe + Return Water Line • Example: ✴ Minas Rio iron project, Brazil; 600mm diameter pipeline is 522km long, to transport 24.5Mtpa of concentrate • 2-3 intermediate Pump Stations • Port Dewatering station & Concentrate Slurry loading via a floa3ng Stockpile vessel storage Photo courtesy Royal Resources Ltd • both rail and slurry line solutions could be used to transport >25Mtpa of concentrate
- 26. Braemar : ๏ : • • • 300 Pirie 380 • 2500 600mm • ✴ Minas Rio ; 600mm 522 2450 • 2-3 • Dewatering • 2500 Royal
- 27. Braemar Iron: Concentrate conversion into Pellets CITIC Stacker Reclaimer Feb 2011 photo sourced from www.citicpacificmining.com/en/news/progress-images Pelletisation ๏ Pellet plants are common in China ๏ Concentrate is agglomerated to form pellets for direct injection into a steel making Blast Furnace ๏ Pelletisation adds value to the concentrate product ๏ Pellets are easier to ship (no moisture content), less likely to release fugitive dust emissions ๏ Australia is underweight in downstream value-add components of the steel making supply chain
- 28. Braemar : CITIC Stacker Reclaimer Feb 2011 photo sourced from www.citicpacificmining.com/en/news/progress-images ๏ ๏ ๏ ๏ ๏
- 29. Braemar Iron: Port for bulk loading of iron products Biggest challenge to development of new mines is lack of bulk handling port infrastructure: • Port Adelaide: capacity is only 1.7Mtpa • Port Pirie: capacity expanding to 8Mtpa, but has very shallow dra` • Port Bonython (proposed): sub-‐op3mal; extra rail distance incurs addi3onal haulage charges Braemar Iron Alliance sees an emerging requirement to berth 200,000 DWT Cape Size’ vessels for sea freight of iron concentrates & Pellets: ª Minimum 50Mtpa port capacity ª up to 250 ships loaded per year ª 6,000tph loading rate ª 320m long, double sided berth ª 20m draft accessible in Spencer Gulf ª Need new deep water port in Spencer Gulf, south of Port Pirie ª jetty length ~3km ª Capital cost around $750 million
- 30. Braemar : • Adelaide : 170 • Pirie : 800 • Bonython ( ): Braemar 200 000 DWT ª 5000 ª 250 ª 6000 ª 320 ª Spencer 20 ª Pirie Spencer ª 3 ª 7 5000
- 31. Braemar Iron: Sea Freight 5,300 nautical miles
- 32. Braemar 5300
- 33. Braemar Iron: Infrastructure Investment scenarios Item Scale Capital Cost A$ million Power & Transmission 500MW $2,250 Desalina3on Water 50Gl/year $500 Slurry Pipelines 25Mtpa $650 Rail expansion to 25Mtpa 380km $750 Locomo3ves & Wagons 9 train sets $550 hauling 25Mtpa Port for 200,000 DWT 50Mt $750 Pellet Plant 10Mt $1,250 Total Capital Investments ±$6,650
- 34. Braemar : 500MW $2,250 50Gl $500 2500 $650 380 $750 2500 9 $550 2500 200,000 DWT 50Mt $750 10Mt $1,250 ±$6,650
- 35. Mining Infrastructure Investment opportuni3es on the Braemar Iron Forma3on Interested? Please see me at the Minotaur Explora3on display Booth Andrew WoskeG, Spokesman for the Braemar Iron Alliance Managing Director, Minotaur Explora3on Ltd (ASX: MEP)
- 36. Braemar Minotaur Braemar Andrew Woskett Minotaur (ASX: MEP)
- 37. and, there are…. Mining Investment opportuni3es with Minotaur Explora3on Minotaur Explora3on has a diverse resources project porjolio. We seek long-‐term investment partnerships to help develop our resources and build for wealth and prosperity. Interested? Please come and talk to the Minotaur team at the Minotaur Explora3on display Booth Andrew WoskeG Managing Director, Minotaur Explora3on Ltd (ASX: MEP)
- 38. …… Minotaur Minotaur Minotaur Andrew WoskeE Minotaur (ASX: MEP)