Xstrata plans to be the first company in Queensland to export magnetite concentrate. The product which is used in steel making will be processed in the brand new magnetite base plant at Xstrata’s Ernest Henry mine located near Cloncurry.
Ernest Henry Mining General Manager, Myles Johnston said that he was pleased to report that the project has been delivered safely, on time and within budget, which was a credit to all those involved in the project based in north west Queensland.
The $69 million facility saw construction beginning in July 2010 and now it is in the commissioning phase. The processing plant will be important to the future of the Ernest Henry Mining operations. Demand for steel is increasing worldwide and so will the demand for magnetite.
Magnetite concentrate is a by-product of the copper gold concentrating process. The newly constructed processing plant is expected to commence exports from the Townsville port in the first half of 2011. Myles Johnston said that they were looking predominantly at Asian markets but there were a number of markets worldwide.