Guelb el Aouj Iron Ore Project,Mauritania

Guelb el Aouj Magnetite Project is an advanced stage iron ore project in Maurtania, North Africa, with a total JORC Resource of 926mt @ 36.2% Fe. According to the PFS, the project's lifetime could reach 200 years at a production capacity of 9.5 million tonnes (Mt) of iron ore a year and could run for more than 40 years, if the company boosts its annual production to 45Mt. The project site contains coarse grained magnetite-quartzite ore that can produce a 66% iron concentrate and, according to some recent analyses, it has an ore reserve of approximately 760Mt grading at 35% iron.. The Guelb el Aouj Project is located approximately 32km northwest of the iron ore mining town of Zouérate and approximately 26km from the mainline railway in Mauritania. Capital costs are estimated at $866.1 million.