The Minas Rio project is located in the state of Minas Gerais, Brazil and will include open pit mines and a beneficiation plant producing high grade pellet feed which will be transported, through a slurry pipeline, over 500km to the Port of Açu in the state of Rio de Janeiro. The project will largely be based on the two main deposits of Serra do Sapo and Itapanhoacanga. Two ore types, Friable and Hard Itabirite, have been identified at Serra do Sapo and Itapanhoacanga. Only the Friable Itabirite is being considered for Phase 1 of the project. The planned annual capacity of Phase 1 is 26.5Mtpa of iron ore pellet feed (wet tonnes), for start up during the second half of 2012.
The figures reported represent 100% of the Mineral Resources. Rounding of figures may cause computational discrepancies.
|Measured and Indicated||-||-||-||-|
|Measured and Indicated||36.6||-||43.5||-|
|Friable Itabirite and Hematite||Measured||28.7||-||42.5||-|
|Measured and Indicated||109.4||-||41.6||-|
|Minas Rio Iron Ore Project |
|Friable Itabirite and Hematite||Measured||25.0||-||42.5||-|
|Measured and Indicated||244.2||90.0||41.7||39.6|
|Measured and Indicated||106.7||-||33.7||-|
|Serra do Sapo (OP)(5)||100||%Fe||%Fe|
|Friable Itabirite and Hematite||Measured||498.1||462.0||38.6||38.1|
|Measured and Indicated||1,370.5||1,027.8||37.6||37.8|
|Measured and Indicated||2,422.1||1,650.5||31.3||31.0|
|Friable Itabirite and Hematite||Measured||-||-||-||-|
|Measured and Indicated||9.5||46.0||63.6||33.3|
|Measured and Indicated||-||79.0||-||29.5|
Mining method: OP = Open Pit.
Due to the uncertainty that may be attached to some Inferred Mineral Resources, it cannot be assumed that all or part of an Inferred Mineral Resource will necessarily be upgraded to an Indicated or Measured Resource after continued exploration.
Audits related to the generation of the Mineral Resource statements were carried out by independent consultants during 2009 at the following operations and projects: Amapá, Itapanhoacanga, Serra do Sapo and Serro