Australian iron ore producer Grange Resources says it is planning to shift its focus to its Southdown project near Albany.

Last month, Grange said it was unlikely to begin mining at Southdown by 2012 because of delays in obtaining environmental permits.

The company announced a series of restructuring initiatives and a USD 124 million share issue in a bid to improve its balance sheet.

Mr Russell Clark MD of Grange Resources said that the announcement has been made, the company will refocus on Southdown. He said that "My focus will certainly be moving across that way. I'm looking to engage with the various departments and the Government to see what we can do to progress these permit applications and once they're away we'll be in a position to really move."

(Sourced from abc.net)