Indiana Resources
 | This article needs to be updated. The reason given is: the company has moved on from what this article is about. (September 2019) |
| Company type | Public |
|---|---|
| ASX: IDA | |
| Industry | Mineral exploration |
| Predecessor | IMX Resources |
| Headquarters | , Australia |
| Website | indianaresources |
Indiana Resources (formerly IMX Resources until 22 June 2016) is a dual-listed iron ore mining and base and precious metals exploration company based in Perth, Western Australia. The company was first listed on the Australian Stock Exchange on 17 August 1994.[1] It changed its name to Indiana Resources Limited in 2016.[2] When IMX's now-closed Cairn Hill mine commenced production in 2010 it became the first new South Australian iron ore mine in over a century.[3] IMX was also the first Australian iron ore company to operate the rotainer bulk export system, which is now in use at a number of other sites around the country.[4]
Cairn Hill Mining Operation
[edit]IMX operated the Cairn Hill iron ore mine, located 55 km from Coober Pedy in South Australia. The product was shipped to China. Cairn Hill was a joint venture between IMX Resources (51%) and Sichuan Taifeng (49%).[5]
The Cairn Hill Mining Operation was commissioned in May 2010 and commenced production in December 2010. It was closed in 2014.[6] IMX shifted its focus to the Mount Woods Magnetite Project.[7]
Nachingwea Regional Exploration Project
[edit]IMX owns and operates the highly prospective Nachingwea Regional Exploration Project in south-east Tanzania, which includes the Ntaka Hill Nickel Sulphide Project. Nachingwea is a large tenement package, located approximately 200 kilometres from the port of Mtwara, with the potential to host multiple mineralised systems. Recent exploration has proven occurrences of high-grade and disseminated nickel and copper sulphides, gold and graphite.[5]
Mount Woods Magnetite Project, South Australia
[edit]IMX is actively exploring its Mt Woods Magnetite Project in South Australia, where it has identified the Snaefell Magnetite Deposit and a number of other substantial magnetite exploration targets. IMX is seeking to develop a 1.8-3.5Mtpa mining project at Snaefell utilising infrastructure from the now-closed Cairn Hill mine, and is presently seeking a cornerstone investor willing to fund the project development costs. IMX retains a pipeline of strategic investments and a portfolio of base and precious metal exploration assets in Australia and southern Africa.[5][6]
References
[edit]- ^ Australian Stock Exchange "Company Snapshot - IMX Resources Limited" Accessed 24 November 2013.
- ^ "IMX Resources Limited". InvestoGain Australia. Retrieved 24 September 2019.
- ^ "China cash boosts IMX resources" The Australian, 13 July 2010. Accessed 24 November 2013.
- ^ Yahoo Finance "IMX Resources Limited: Cairn Hill Ships Four Millionth Tonne of Ore" (2013-07-25) Accessed 24 November 2013.
- ^ a b c IMX Resources website Accessed 13 September 201a.
- ^ a b Cairn Hill iron ore miner IMX Resources to close South Australian office, focus on Tanzanian exploration The Advertiser, 3 September 2014. Accessed 4 September 2014.
- ^ "IMX on expansion trail at Cairn Hill" The Advertiser, 14 November 2013. Accessed 26 November 2013.