Iron is the world's most commonly used metal - steel, of which iron ore is the key ingredient, represents almost 95% of all metal used per year. It is used primarily in structural engineering applications and in maritime purposes, automobiles, and general industrial applications. Iron ore is the key ingredient in the production of steel, one of the most important and durable products for modern day living.
Metamining has joined with Titan Mining to form a joint venture, Utah Mining Company, to explore the potential for mining iron sand in Utah to produce high quality iron ore.
Initial exploration is underway and will continue through 2010 to develop an understanding of the potential for this property which covers over 60 square miles. This property is currently leased by Utah Mining for future mining. Exploration permits have been secured and mining permits will be obtained when the economic viability has been determined.
The potential reserves of iron in this property could exceed 100 million tons.
An additional iron sand property in Utah, approximately 60 miles from the property described above, is being evaluated by Metamining of Utah, which is currently focused on the evaluation of a manganese property. The evaluation of this iron sand property will begin in 2011.
The property is regionally accessible by way of good quality asphalt roads and local gravel surfaced ranch roads about 30 miles to the highway both north bound to West Wendoverand southeast bound to Delta for further railroad transportation.
It is about 750 miles from West Wendoverto the Port of Tacoma, WA by railroad, where capsize vessels can be loaded, it is about 450 miles by railroad from West Wendoverto Sacramento Port, CA where the capacity for 60,000MT vessels is available.The property is close to a power plant and fresh water is available for use.
Hematite is a mineral, colored black to steel or silver-gray, brown to reddish brown, or red. It is mined as the main ore of iron. Varieties include kidney ore, martite, iron rose and specularite (specular hematite). While the forms of hematite vary, they all have a rust-red streak. Hematite is harder than pure iron, but much more brittle.
Metamining produces hematite ore in Utah. The Drum Mountain property consists of a series of contiguous full section of land. The right to explore the iron ore mine located at Drum Moutain, Juab County, Utah.
Iron grade of the Drum Mountain Hematite Mine appears to be adequate and exits shallow. A lot of ore body outstands in open. The whole body of the mine within our property area stretches 35 kilometers from east to west with the seams of the ore of 4 meters high on an average and the width of the mine bed is 50 meters outreach.
Of the 35 million tons reserve estimated, it would be expected an full mining area of the said 35 million tons in reserve could be readily minedm, with the production of one million tons iron ore of 58%-62% per annum.
The property is regionally accessible by way of good quality asphalt roads and local gravel surfaced road about 5 miles to highway 174 both 100 miles north bound to west Wendover and 45 miles southeast bound to Delta for further railroad transportation.
It is about 725 miles from Delta to port of Richmond, California by railroad, where Handymax size vessels can be loaded. While it is about 940 miles by railroad from Delta to port of Longview, Washington, where the capacity of 60,000 MT vessels are available. Both ports are in west coast of USA which is closer to Asian marketplace and they are unfrozen in winter.