Further development potential
Situated to the north of the Group's three operating mines, the Northern Deposits represent licences along strike of the Kremenchuk Magnetic Anomaly, which represents a continuation of the same deposit currently being mined by the Group.
The licences under the Group's control, namely: Vasylivske, Kharchenkivske, Manuilivske, Brovarkivske and Zarudenske, are all located to the north of FBM and along strike of the Group's three operational mines. Collectively, these projects have a resource estimate of 13 billion tonnes under the GKZ system.
Given the proximity of these deposits to the Group's existing infrastructure and magnetite mineralogy, the development of these deposits is considered to be relatively low risk.