What we own
The Group has a 1.5% life of mine GRR over three exploration tenements in the central Pilbara region of Western Australia, owned by a wholly owned subsidiary of BHP Group Limited (‘BHP’), which is listed on the ASX.
The tenements, covering 263 square kilometres, host a number of known iron occurrences, including the Railway deposit. The tenements are supported by extensive rail infrastructure including the rail lines from Rio Tinto’s West Angeles and Yandicoogina mines and BHP’s rail line serving its current operations at Mining Area C, which lie immediately to the east of the Railway deposit.
We do not anticipate any tangible progress on the tenements covered by the Group’s royalty until ~2040, while BHP continues to develop its other iron ore interests in the Pilbara.
The tenements, covering 263 square kilometres, host a number of known iron occurrences, including the Railway deposit
The Group has revised its estimate of the likely start date for production from the tenements covered by the Group’s royalty, delaying the start date by 10 years to 2040
Following the Group’s bi-annual impairment review, an impairment charge of $1.2m was recognised in the income statement for the year ended 31 December 2021 (2020: $3.5m)