Stella Vista acquires world-class Kalia Iron Ore Project in Guinea
Published by Isabelle Keltie,
Editorial Assistant
Global Mining Review,
Stella Vista has acquired the world-class Kalia iron project in Guinea. Established by MPGL (majority owner) and led by former mining executives of Fortescue Metals Group (FMG), Sirius Minerals, Bowen Coking Coal and Coal of Africa. The Company is led by Russell Scrimshaw (Chairman) and Blair Sergeant (Managing Director).
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.”
Read the article online at: https://www.globalminingreview.com/finance-business/17072023/stella-vista-acquires-world-class-kalia-iron-ore-project-in-guinea/
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