Snaefell is located just 12 kilometres south-west of Cairn Hill and close to existing transport infrastructure making it a key component of CU-River’s growth strategy.

Snaefell will produce approximately 10 million tonnes per annum of high-grade magnetite concentrate once in full production. With a current defined resource of 569 million tonnes and considerable exploration upside Snaefell has an expected a mine life of at least 20 years.

The coarse, high-grade concentrate produced at Snaefell will be transported via the Darwin to Adelaide railway to a port in the Upper Spencer Gulf before being exported to China as a direct premium feed to the steel industry.

The project is at the feasibility stage with a mining lease proposal in development. First magnetite concentrate is planned for 2024.