Expressions of Interest Sought for the Acquisition of an Established Iron Ore Operation in Western Australia

Cockatoo Island Iron Ore Project – Western Australia

Following the appointment of Richard Tucker and John Bumbak on 7 July 2026 as voluntary administrators (the Administrators), the Administrators are now seeking expressions of interest for the sale of Cockatoo Island Mining Pty Ltd (Administrators Appointed) and its assets (CIM).

CIM presents an opportunity for strategic investors, mining companies and resource-focused funds to acquire or recapitalise a Tier 1 legacy Australian iron ore asset with an existing operating footprint and substantial future upside.

The project is located on Cockatoo Island in the Kimberley region of Western Australia and has a long history of iron ore production, supplying ultra-high grade iron ore into international markets. The project combines an existing infrastructure base with port and ship-loading facilities, a high-grade resource and a clear pathway to future underground development.

About the Opportunity

CIM’s asset portfolio includes:

1.       Established iron ore operation

The Cockatoo Island Iron Ore Project is an established iron ore operation in Western Australia with an existing 26Mt JORC-compliant Mineral Resource averaging approximately 69% Fe (the Project). The Project has a long operating history, with more than 45Mt of ultra-high-grade DSO mined and shipped between 1951 and 2015.
2.       Established mining and export infrastructure
The asset package includes existing mining infrastructure, approved port facilities and mine-to-port logistics infrastructure. The operation benefits from direct access to deep-water export facilities, protected waterways and established materials handling infrastructure, providing a pathway to future production and export.
Key investment highlights
  • Premium high-grade iron ore product: The Project targets ultra-high grade iron ore averaging approximately 65–69% Fe, supporting strong realised pricing and direct shipping without additional processing requirements;
  • Mine-to-port operating advantage: The Project benefits from established port, logistics and site infrastructure, materially reducing capital requirements and shortening the development timeline;
  • Underground growth potential: Mineralisation remains open at depth and along strike, with drilling confirming continuity below the current resource envelope. Planned underground development provides a pathway to extend mine life and unlock additional value beyond the initial c.7.1Mt in the mine plan;
  • Near-term development opportunity: A completed Pre-Feasibility Study outlines a clear pathway to production, with first ore targeted within approximately 8 months of mobilisation and steady-state operations shortly thereafter; and
  • Established approvals framework: Existing mining and port approvals provide a platform for future development and operational restart activities

Figure 1: Tenement Map