Cliffs’ Koolyanobbing iron ore operations in the Goldfields produces about 11 million tonnes a year and is adjacent to tenements held by MinRes. “There is no doubt there are probably more synergies for us than anyone by blending the two operations together,” Mr Ellison said. “We’d get a very long [mine] life down there if we could get that [Koolyanobbing].
The $18 million loss on the Aquila raid saw MinRes miss its profit guidance for the full year, with the mineral processing and mining services firm posting $231 million in net profit on Thursday.
Read more here: SMH