Well I had a bit of spare time and looked into this Ponzi. It's owned by Omodei Global and comes from the Whispering Ridge magnetite deposit up near Mt Garnet. And it's for coal washing as I thought.
http://www.omodeiglobal.com/index.html
Reading up on Mr Montgomery Omodei he appears to be a "can do" guy. Lots of experience, including in bauxite. Maybe Sholom should pick up the phone!?