The Company’s Western Australian operations are run through its wholly owned subsidiaries
that make up the Cable Sands Group ("Cable Sands").
Our Gwindinup deposit is located
approximately 30 km south of our Bunbury mineral separation plant and comprises
both the Gwindinup North and Gwindinup South deposits. Additional ore deposits (Happy
Valley North and Happy Valley South) are located adjacent to the Gwindinup deposit and are
expected to be mined as an extension of the Gwindinup Mine. The Gwindinup and Happy Valley
deposits contain 2.9 million tonnes of contained heavy mineral, approximately 10% of which
Ministerial approvals for the Gwindinup North and Gwindinup South deposits were received
in December 2005. Development of the Gwindinup Mine commenced in May 2007 and was
commissioned in early 2008. The Gwindinup Mine (including the Happy Valley North and Happy
Valley South extension) has an approximate nine-year mine life which is
relatively long for the region.
The Western Australian mines have traditionally performed well. Cable Sands has a number
of clients for Western Australia production and is regarded in the industry as an
experienced and stable supplier. A reputation built over the last 50 years.
Bunbury Mineral Separation Plant
The Bunbury Mineral Separation Plant (MSP) treats feedstock
from the Company’s own mines, as well as on a toll treatment basis for a number
of customers. During 2005 the MSP underwent a $6 million upgrade to allow it to
simultaneously process feedstock from the Western Australian and Murray Basin
operations as well as a wider variety of toll treatment