Grange Resources (GRR)

Shares / Stock Code

GRR

Stock Exchange / Sharemarket

ax

Grange Resources (GRR) is a metal mining, exploration and development Company with operations mainly in Australia and Malaysia. The core focus of the Company is on gold and iron ore mining, exploration and development. Grange Resources listed on the Australian Stock Exchange on 27 March, 1986. GRR is actively involved in the development of Southdown Magnetite and Kemaman Pellet project, with targeted annual production of 6.8 million tonnes of high grade iron ore pellets from 2012. The project is expected to remain productive for over 35 years with its annual EBIT potential estimated at US$400 to US$500 million. The project includes a magnetite mine and concentrator at Southdown, Western Australia. It also comprises a slurry pipeline from Southdown to the Port of Albany including storage and shipping facilities at the port and a pellet production facility located at Kemaman on the east coast of peninsular Malaysia. Grange Resources holds 70% interest in the Southdown project, with remaining 30% interest held by a wholly owned subsidiary of the Japanese trading company Sojitz Corporation through joint venture operations. The Company also focuses on the development of the Bukit Ibam Iron Ore Project; royalty income from gold production; investment of cash assets, and management of the Company. In September 2007, Grange completed the 100% acquisition of the interest in Exploration Licence E70/2512 from Rio Tinto Exploration Pty Ltd.