Karara is a magnetite mine in the Midwest region of Western Australia. The project is a owned by Chinese steelmaker Anshan Iron and Steel (AnSteel). Ansteel has an offtake agreement for 100% of production over the life of the mine. Karara Phase 1 has a nameplate capacity of 8 Mtpa of 65% Fe concentrate and we expect it will produce this amount on an annual basis for the life of the mine. Ansteel has a transport contract with Aurizon until 2027 and the mine would be expected to operate until at least this time but we have modelled the mine until 2034 when known reserves deplete.