BBI Group (BBIG) has signed an agreement with Mineral Resources subsidiary Polaris Metals to acquire the Weelumurra iron ore asset in the Central Pilbara region of Western Australia.
The Weelumurra iron ore asset is around 15km from BBIG’s proposed Central Pilbara rail head and stock yards.
BBIG expects the project has approximately 200 million tonnes of iron mineralisation with additional exploration potential, based on earlier explorations.
BBIG CEO Nicholas Curtis said: “BBIG continues to develop the BallaBalla Infrastructure Project as the next tier-one, low cost, large-scale iron ore export infrastructure facility in the Pilbara.
“Securing the Weelumurra iron ore asset is an important step in BBIG’s efforts to progress the project to a final investment decision.
“We look forward to working with Mineral Resources and other Weelumurra stakeholders to continue its development so that we are in a position to bring it into production via the BallaBalla Infrastructure Project.”
In addition, BBIG has recently completed an exploration review of the iron ore potential of the ground covered by its Central Pilbara Hay Stack Flat tenement applications. These tenements are located alongside BBIG’s proposed railway line.
The review found from its geological characteristics that Central Pilbara Hay Stack Flat tenements have the potential for iron mineralisation of up to 400 million tonnes.
BBIG is currently planning to conduct an exploration campaign. BBI Group is jointly owned by New Zealand’s Todd and Australian investment company Nyco.
Image: Location of the Weelumurra iron ore asset. Photo: courtesy of BBI Group.