Growth Projects

Mirabela Nickel also has a number of brownfields, near-mine and regional exploration prospects that have the potential to provide additional, organic growth over the medium to long term.

Brownfields Projects to Extend Santa Rita’s Life of Mine

There is an opportunity to extend Santa Rita’s Life of Mine, beyond the current 23 years, through increasing the in-pit resource and through increasing the size of the underground resource.

An underground inferred resource of 87.5 million at 0.79% nickel was published in February 2009. The underground mineralisation is open along strike and at depth, below 1,200m, and the grade appears to improve at depth. The best intersection (158m @ 0.99% Ni) to date has come from one of the deepest holes drilled at Santa Rita and demonstrates that grade and width continue to improve with depth.

Drilling programmes targeted at increasing the in-pit resource and at better defining and increasing the size of the underground resource are planned to commence during the course of this year and next.

Near-Mine

Mirabela has two primary exploration targets close to the mine, Peri Peri (2km away) and Palestina (25 km away). Initial drilling programmes have been undertaken at these two targets and low grade nickel sulphides were intersected. A comprehensive exploration program to properly evaluate these two targets is expected to commence during the course of this year and next.

Regional Exploration

Mirabela has over 60 exploration prospects. Over the medium term, it plans to undertake a review of its exploration potential and develop a targeted exploration program.

9.0 Mtps Expansion

Mirabela has kicked off a pre-feasibility on expansion of ore production to 9.0 Mtpa.