Full Description

Territory Resources Limited is an Australia-based company. The Company is engaged in the business of iron ore mining and exploration. The Company’s projects include the Frances Creek, Mount Bundey, Yarram / Batchelor and Warrego. The Frances Creek hematite iron ore mine is located 200 kilometer south of Darwin near the township of Pine Creek and 15 kilometer from the Adelaide-Darwin rail line. A total of 1 563 000 tons of direct shipping ore (DSO) from Frances Creek was shipped during the fiscal year ended June 30, 2009, comprising 904 000 tons of lump ore and 659 000 tons of fines. The Company operates in the iron ore production and exploration segment in Australia. The Company’s subsidiaries include Territory Iron Pty Ltd, Territory Manganese Pty Ltd, Territory Uranium Pty Ltd, Territory Gold Pty Ltd and Territory Chromite Pty Ltd. On July 17, 2009, the Company disposed of its 73.5% interest in Matilda Zircon Limited.