Beasley river limonite

The Beasley River Limonite project is located 60 kilometres north west of Paraburdoo, in the Ashburton Municipality, within the Pilbara region of Western Australia. The project is based around the development of the 400 million tonnes Beasley River iron ore (limonite) deposit.

Limonite has Been Mined as Iron ore for Many Thousands of Years

Beasley River limonite is an iron ore that consists of a mixture of hydrated iron (111) and oxide-hydroxides. Limonite being one of two main iron ores, the other is known as hematite. Limonite has been mined as a source of iron ore for thousands of years.

Beasley River Limonite Exists as an Ancient Drainage Line

The Beasley River limonite exists at the site as a series of ridges and elongated mesas that were formed as a drainage line in ancient times. The Beasley River limonite deposit extends from the Rocklea Dome Brockman ore bodies in the far south, to the Hamersley iron bedded iron deposits in the north.

Rio Tinto Shares Beasley River Limonite Deposit With Robe River Partners

In 2004, the sole owner of the Beasley River Limonite deposit, Rio Tinto, through its wholly owned subsidiary, Hamersley Iron Pty Ltd, transferred 47 percent of its ownership of the project, to its Japanese partners in the Joint Venture operated, Robe River iron ore mine. The partner Nippon Steel received 28.2 percent, Sumitomo Metal Australia 9.4 percent and Mitsui Iron Ore Development 9.4 percent. Rio Tinto kept the balance (53 percent) in its own name. However, it was announced at the time that the decision to develop the project as another mine was further down the track.

Beasley River Limonite Deposit to be Developed by Beasley River Joint Venture

As a result of the changed shareholding, Nippon Steel, Mitsui and Company and Sumitomo Metal Industries Limited, formed a partnership and named it, Beasley River Iron Associates, Nippon Steel held a 60 percent interest in the new association, with Sumitomo and Mitsui having a 20 percent interest each. This new group then formed a partnership with Beasley River Mining Pty Ltd, a fully owned subsidiary of Hamersley Iron, to form the Beasley River Joint Venture. Beasley River Mining holding a 53 percent interest in the Joint Venture and Beasley River Iron Associates a 47 percent interest.

Nippon Steel, Sumitomo and Mitsui also reached an agreement with Rio Tinto that gave the group common usage of Rio Tinto's infrastructure that included its; rail network, power plants and ports, that were owned and operated by the Robe River Joint Venture, a company that included the three Japanese companies and Rio Tinto through Hamersley Iron. The common usage agreement would allow the Beasley River Joint Venture to be in a better position to respond to rising world iron ore demands, particularly that of China, at some time in the future.