Northern Iron Limited - Northern Iron

Overview

Northern Iron is an Australian Stock Exchange listed company which is the 100% owner of Sydvaranger Iron Project in northern Norway. The Sydvaranger project uses world class mining, rail, processing and port assets to produce and export high quality iron ore concentrate to steel industry customers worldwide. Product from the project currently contains iron ore content of approximately 68.5% and silica content of <4.5%. Existing reserves offer a 25+ year mine life.

Northern Iron is also currently evaluating the feasibility of doubling production at Sydvaranger to 5.6Mt dry concentrate per annum. An engineering scoping study has recently been completed, and the process for achieving the required government consents has commenced. A drilling program commenced in May-2011 and is expected to result in Reserve and Resource upgrades during CY2012.