Grange Resources has released its 2025 Annual Mineral Resource and Ore Reserve Statement for its Savage River operation, reporting only minor declines due to mining depletion and ongoing refinement of underground plans.
- Mineral Resources decreased by 0.8% due to mining depletion
- Ore Reserves fell 3.8% reflecting mining depletion and updated mine designs
- Underground development advanced with significant lateral and vertical progress
- Ore Reserves supported by extensive drilling and bulk sampling
- Mine life projected to 2040 with integrated pellet production at Port Latta
Stable Resource Base Despite Mining Activity
Grange Resources Limited (ASX:GRR) has published its comprehensive 2025 Mineral Resource and Ore Reserve Statement for the Savage River iron ore operation in Tasmania. The report reveals a largely stable resource base, with Mineral Resources declining marginally by 3.6 million tonnes or 0.8%, attributed solely to mining depletion over the past year. Ore Reserves saw a slightly larger reduction of 3.8 million tonnes (3.8%), influenced not only by depletion but also by refinements in mine design and updated production scheduling.
Underground Project Progress and Technical Advances
The underground mining project at Savage River continues to advance, with 64 metres of lateral and 260 metres of vertical development completed in 2025. The ventilation system has been finalized to support the next phase of decline extension. The underground Ore Reserve is underpinned by a robust technical foundation, including over 5,100 metres of lateral development, 430 metres of vertical development, nearly 37 kilometres of drilling across 55 holes, and a 20,000 tonne bulk ore sample drive. These efforts reflect Grange’s commitment to transitioning from open pit to underground mining methods, specifically block caving and sub-level caving, as confirmed by the 2023 definitive feasibility study.
Resource and Reserve Details by Deposit
The total Mineral Resource at Savage River stands at 464 million tonnes at an average Davis Tube Recovery (DTR) of 44.2%, with iron content averaging 68.3%. The Ore Reserve totals 96 million tonnes at 44.7% DTR. The North Pit and Centre Pit deposits remain the core mining areas, with open pit mining ongoing and underground development ramping up. The Long Plains deposit remains at the inferred resource stage, with exploration licence renewed and further drilling planned to upgrade confidence levels.
Operational and Environmental Governance
Grange’s resource and reserve estimates comply fully with the JORC Code (2012 edition), supported by rigorous internal governance and external technical reviews. Senior management with decades of experience oversee the resource evaluation and mining operations. Environmental management remains a priority, with waste rock and tailings disposal managed under strict regulatory approvals. The company operates under long-term mining leases with approvals extending to 2031 and anticipates lease renewals to support mining through to 2040.
Looking Ahead
Grange Resources continues to operate an integrated iron ore mining and pellet production business, with pelletising and port facilities at Port Latta enabling export predominantly to Asia Pacific markets. The company also holds the Southdown magnetite project in Western Australia, which could significantly expand production capacity in the future. The 2025 statement underscores Grange’s steady operational progress and strategic focus on underground mining development, positioning it well for sustained production over the coming decades.
Bottom Line?
As Grange advances underground mining at Savage River, market watchers will keenly observe financing and execution milestones shaping its next growth phase.
Questions in the middle?
- When will Grange secure financing to fully develop the North Pit underground project?
- What exploration results can be expected from Long Plains to potentially upgrade resources to reserves?
- How will evolving iron ore market conditions impact Grange’s pellet sales and pricing strategy?