From the Grange website it says 2034 which is only 16 years.
Company Overview
mce-anchor
Grange Resources is Australia's oldest and most experienced magnetite producer
Grange Resources Limited (Grange Resources) owns and operates Australia's largest integrated iron ore mining and pellet production business located in the northwest region of Tasmania. The Savage River magnetite iron ore mine, 100km southwest of the city of Burnie, is a long life mining asset set to continue operation to 2034.
They are also looking into underground mining also, it was mentioned in the Corporate update 2/03/2018 also in this article ( I have never heard of an underground Iron ore mine though)
http://www.theadvocate.com.au/story...potential-underground-mining-at-savage-river/
Ann: Updated Resource & Reserve Statement - Savage River, page-6
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