Admiralty Resources NL acquired a 49% interest in SCM Vallenar Iron Company (formerly known as SCM Santa Bárbara)  iron ore mines, located near Vallenar in Region III of Chile. Admiralty Resources increased its equity to 60% in July 2007 and it acquired the remaining 40% from Wyndham Explorations in May 2009, which resulted in a 100% ownership of the tenements and mining concessions of SCM Vallenar Iron Company.

SCM Vallenar Iron company owns and operates nine existing iron ore mines sites containing alluvial, hard rock (vein and stockwork) and stockpiled iron ore fines.

The first mine to open was Japonesa, followed by Japonesita. Mining pits will be open in the Mariposa and Mirador mines in the coming months.