Project History


A maiden resource statement of 2mt @57% Fe was defined at Riley in 2012, which was followed by engaging independent mining engineers to complete mining studies and produce a reserve statement later in the same year of 1.8mt @57% Fe.


State government approval of the Riley Mine was granted in May.

Federal government approval was granted in August.

Venture mobilised equipment in October 2013 but site works did not commence until the following year. 


Venture suspended operations and the Riley Mine was placed on care and maintenance.


Venture updated its feasibility study and the Board made a decision to recommence mining in August.


Venture signs a Port Access Agreement with TasPorts in July.

Venture signs a Road Access Agreement with Hydro Tasmania in June. These agreements secured the pathway for the Riley Iron Ore production from mine gate to shipping.

Venture obtains equity funding to commence production in August. Venture announces Final Investment Decision (FID) for the Riley Mine, with dry screening operations to commence.