Venture Minerals appoints preferred tenderer for Riley Iron Ore restart in TAS

Venture Minerals has appointed local contractor Shaw Contracting as the preferred tenderer to undertake mining and processing works for the planned restart of the Riley Iron Ore Mine operations in Tasmania.

The two companies have previously worked together at the mine when Venture Minerals first began operations at Riley in 2014.

“Venture is glad to welcome back the experience and knowledge of Shaw Contracting to the Riley Iron Ore project,” Venture Mineral’s Managing Director Andrew Radonjic said.

In a statement, Venture Minerals said: “In the awarding of preferred tenderer status to Shaw, Venture did receive strong interest from other service providers in relation to the mining and processing tender packages sought by the Company. Venture is now well progressed in the process of collating this and other necessary information to form a robust view of potential project economics as it finalises the Decision to Miner Study.”

The Riley Iron Ore Mine was placed into Care and maintenance in August 2014 after operations were suspended.

Currently, Venture Minerals is continuing to work on updating its mining study on the Riley mine so that the company can soon reach a final decision regarding the restart of operations. Extensive pre-production works have also been undertaken by Venture Minerals at the Riley mine to push the restart of operations, making this project a ‘quick to market’ opportunity for the company.

“The advantages of getting Shaw to pick up from where they left off will be a huge advantage to the recommencement timeline of the Mine,” Mr Radonjic said.

Venture Minerals is aiming to begin iron ore production in the fourth quarter of 2019.

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Source: Venture Minerals; Australian Mining; International Mining; Shaw Contracting