Kalia is one of the largest undeveloped iron ore projects globally, previously owned by Bellzone Mining. Since 2007, over US$350 million has been invested into Kalia, including progressing Kalia through two BFSs. Existing infrastructure at Kalia include on-site camp, drill rigs and plant equipment. The Group will simultaneously investigate the potential of the laterite nickel deposit which overlays the iron ore deposit.
Highlights
- Group led by former Fortescue Metals Group Deputy CEO Russell Scrimshaw and former Bowen Coking Coal & Coal of Africa Executive Director Blair Sergeant.
- Stella Vista is a private Australian company and part of the Millennium Panorama Group (MPGL).
- Stella Vista will have an 85% interest in Kalia with Guinea owning 15%
- Advanced development project:
o Existing mining licence and convention.
o Bankable Feasibility Studies (BFS) completed on 45 million tpy DSO & magnetite project.
o Second BFS completed on 10 million tpy fast-tracked DSO-only project.
o Pre-Feasibility Study (PFS) completed on in-situ nickel deposit.
- Globally significant iron and nickel resource across:
o 4.7 billion t magnetite JORC-compliant resource.
o 79 million t nickel JORC-compliant resource.
- Project located c.350 km from the Guinean coast and within 10 km of the Trans-Guinean Railway, currently under construction at a cost of US$15 billion.
Commenting on the agreement to acquire Kalia, Russell Scrimshaw, Chairman, said: “I am fortunate to have first-hand experience in identifying iron ore projects globally which fill the criteria of future operational mines. Kalia is such a deposit and we are delighted to have acquired it. The most important development has been the start of construction of the Trans-Guinean Railway and Port infrastructure, which will bring a new economic dawn to Guinea.”
