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With the mission to reopen the Alquife iron ore mine, Minas de Alquife S.L.U. is developing the brownfield iron ore mining project on the Alquife iron ore deposit.

Minas de Alquife S.L.U. has analyzed all existing drill data from the 861 historic drill holes and more than 150,000 meters of existing drill cores, leading to more than 130 million tonnes of resources of iron ore only in the Alquife area. Additional ca. 40 million tonnes, based on 11 drill holes, are estimated in the La Calahorra area. Moreover, significant additional exploration is expected as only a minor part of the surface of the mining rights was considered so far in the resource modeling. This makes the Alquife project the biggest iron ore brownfield project in Western Europe.

Located close to European end-markets with its proximity to European steel mills, the future Alquife mine is perfectly positioned for European steelmakers – now mainly purchasing iron ore from Brazil. The projected output of the future open pit is planned to reach 4 million tonnes of Alquife iron or per year, leading up to an estimated life of mine of at least 20 years.

Currently, the project is in a prefeasibility phase, with emphasis on optimized methods of mineral processing and transport of the Alquife ore product. Also in the area of transportation Minas de Alquife S.L.U. can take advantage of the transport infrastructure still in place: the main railroad line passes 12 km from project, leading to the port of Almería. The mine has an exclusive railway line directly connecting with the main railway. Gas and electric power are in very close proximity, the distance to the highway is ca. 3 km, nearest airports are situated 80 km (Granada) respectively 95 km (Almería) from the mining property.

Moreover, Minas de Alquife S.L.U. has full accessto ca. 10km2 of land, covering the core area of the mining property, including the former open pit, the installations of the mining plant and the former mining village. As the current project funding takes place through a private investor, the Alquife mining project is independent from the volatility of capital markets.

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