Nowa Nowa

Overview

Eastern Resource Ltd.’s Nowa Nowa Iron Project (the project) is a greenfield development of a high-grade magnetite / hematite deposit referred to as ‘5 Mile’.

The proposed project development would comprise a drill and blast open cut mining operation with a simple onsite crushing to produce a product stream ready for export. The mine has a forecast annual production of 1Mt of crushed ore over 5-8 years of minelife.

The project is located in state forest 7 km north of the township of Nowa Nowa approximately 1km from the Buchan-Bruthen Road. The crushed ore is planned to be transported by road to the existing Pentarch wharf at the Port of Eden in Edrom, NSW (‘the Port’). The transport route between the mine and the Port is via the Bruthen-Buchan road, Princes Highway, then Edrom Road. Figure 2

Under the Environment Effects Act 1978 Eastern is required to prepare an environment effects statement (EES) to assess the potential environmental impacts of the project. The EES requires the company to conduct a number of studies including, but not limited to, biodiversity and habitat, water catchment and hydrology, visual and environmental amenity, social impact and cultural heritage.

Eastern, through its wholly owned subsidiary Gippsland Iron Pty Ltd commenced the preparation of an EES following issue of the Final Scoping Requirements for the EES in June 2014. The development of the EES was paused for a period, however, since then, market conditions and an easing of constraints at the preferred shipping port has allowed Gippsland Iron to recommence the preparation of the EES and complete the associated studies. More information on the EES can be found at www.planning.vic.gov.au/environment-assessment/browse-projects/projects/nowa-nowa-iron