Aurox Resources

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In brief

Aurox Resources (ASX:AXO) is edging closer to production at its 100% owned Balla Balla magnetite iron ore project in the Pilbara, Western Australia. The Balla Balla iron processing plant is designed to commence at 6 million tonnes per annum (Mtpa) concentrate production with a simple, uninterrupted upgrade to 10 Mtpa. Delivery of first concentrate to port is scheduled for 2010. The Bankable Feasibility Study (Sept 2007) shows Balla Balla has the potential to be Asutralia's lowest cost magnetite producer. Two 15 year sales off-take contracts for 100% concentrate production are in place with large Chinese steel companies.