Grange Resources Limited and Sojitz Resources & Technology Pty Ltd. have appointed Standard Chartered Bank to act as Financial Advisor in relation to the Southdown Magnetite Mining Project in Albany, Western Australia. Prefeasibility modelling indicated that the project will cost AUD 2.57 billion to complete the mine site preparation, the concentrator facility and associated infrastructure to load and ship approximately 10 million tonnes per annum of high grade magnetite concentrate containing 69% iron.