SIMEC Mining

The SIMEC Group is an international energy, infrastructure and natural resources business; founded 50 years ago which in 2016 had an annual turnover of almost $2.5 billion and net assets valued at $350 million. It is part of the Gupta Family Group ("GFG") Alliance, which has combined turnover in excess of US$13bn and combined Net Assets in excess of US$2.3bn. Its activities span renewable energy generation, mining, shipping and commodities trading through its key hubs in Europe, the Middle East, Asia and Australia. As part of the global GFG Alliance, SIMEC has a key focus on developing large scale green energy capacity to support GFG’s low-carbon metals and industrials strategy – known as GREENSTEEL.

SIMEC Mining owns and operates a 10m tonne per annum iron ore mine in the Middleback Ranges in South Australia, approximately 60 kilometers from the town of Whyalla.

These operations incorporate the Iron Baron, Iron Knob and South Middleback Ranges mine sites. They mine both hematite and magnetite iron ore which is respectively railed and piped to Whyalla. The majority of the magnetite is pelletised (c.1.3mtpa) and used within the steel works. The hematite ore (c.10mtpa) and excess magnetite is loaded onto ships for transport to a primarily Asian customer base. Total reserves and resources are just under half a billion tonnes.

The Alliance also owns a portfolio of non-ferrous mining assets located in South Australia. This includes the Ardrossan Dolomite Mine – which supplies dolomite flux to Liberty’s Whyalla Steelworks – as well as a collection of copper-gold exploration projects.