Additional information
The XNS mine is located approximately 44km southwest of Nanjing and 24km ESE of Maanshan, in the Anhui Province. The magnetite iron ore mineralisation occurs within a dioritic porphyry body, which has intruded into andesite and may be covered by tuffaceous breccia and tuff. The open pit mine currently mines approximately 1.2-1.5 million tpa of ore and a similar amount of waste, with mining and stripping costs estimated at 20-25Yuan RMB/t (USD 2.92-3.65/t). Resources have been estimated at 31.2million tonnes of magnetite ore averaging 23.64% Total Fe by No. 322 Geological Brigade to Chinese standards (not JORC) in March 2007.Low grade ores and waste are crushed and magnetically concentrated on site at the preliminary concentrator, before being trucked with higher grade ores approximately 7km on a concrete paved road to the Sudan No.1 and No.2 concentration plants, located in the Jiangsu Province, where there is sufficient tailings capacity. The ore is then concentrated on a 3-3.5:1 basis to produce approximately 400,000tpa of 62-63% Fe product. The close proximity to local steel mills enables premium pricing due to the low transportation costs. In 2008, sales revenues peaked at USD 130/t and in early 2009 average around USD 85/t, with total operating costs averaging around USD 50-60/t of concentrates.
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