mining to commence presold to chinese

Planning under way for second SA iron ore mine
Thursday May 3, 2007, 2:40 pm

South Australia's second iron ore mine, planned for near Lock on Eyre Peninsula, could be operating by the end of next year.

Centrex Metals says a mine design and mining schedule should be known within weeks.

The company has already pre-sold some of its ore to Chinese companies.

Centrex managing director Gerard Anderson says he hopes to have all approvals in place by the middle of 2008, with the mine to start operating at the end of the year.

"Look, I think it is a goer, we've done an awful lot in the last eight months, we've gone from listing on the ASX to actually having an indicator resource and at the end of this month we will have a reserve," he said.

"We now clearly have to make sure that we have an economic project and that's why we're doing the pit design right now."