OREANDA-NEWS. December 15, 2011. Chongqing Steel has officially started construction work on the Extension Hill magnetite iron ore project in Western Australia, which is expected to be completed at the end of 2013.

The mine has proven reserves of 1.67 billion tons and forward reserves of five billion tons with average iron content of 39.4 percent.

The USD 3 billion investment project has annual iron concentrates output of 10 million tons grading up to 67-68 percent.