US based Cliffs Natural Resources Inc received the backing of regulators in Western Australia State for its proposed Deception iron ore mine.

The Environmental Protection Authority said in a report that the mine, which is targeted to start production in 2013, should be allowed to proceed subject to several environmental management conditions.

Deception contains an estimated 9.2 million tonnes of iron ore having an estimated gross economic value of AUD 1.44 billion, the company said in its 2011 environmental report on the venture.

The company said the new mine is expected to have a productive mining life of around 8 years from 2013.

Deception will be incorporated into Cliffs existing Yilgarn operations which export iron ore from the state Esperance port on the south coast.

The EPA report to the Western Australian state government is now subject to a two week public appeal period closing January 23.

(Sourced from www.marketwatch.com)