Iron Road conducted its own feasibility study in to the Eyre Peninsula project which confirmed a 25 year mine life producing 21.5 million tonnes per annum of high quality, low impurity iron concentrate, with potential yearly revenues of US$2.8 billion.
The enhanced project status is a recognition that the project is strategically important to Australia and will result in expedited, coordinated access to Federal and State government approval processes and issue resolution.
“The granting of MPF status is a further positive step toward Iron Road achieving its vision to become a trusted and reliable supplier of premium iron concentrates to the Asian marketplace,” Iron Road Managing Director Andrew Stocks said.
As well as the mine, $4 billion will be spent on a utilities corridor and port, including 150km of rail line, 60km of water piping and 70km of powerlines.
The port will be located at Cape Hardy, featuring a 1400m long jetty and wharf – the first in SA to service Cape-size vessels.
Iron Road plans to allow the shared use of these facilities for other import and export operations.
“As part of the Definitive Feasibility Study, we identified a significant opportunity for third parties through our proposed Cape Hardy port; there is also the potential to connect the Iron Road rail system to the national network further opening up an export solution to a far greater region,” Mr Stocks said.
Around 1950 jobs are expected to be involved during the construction phase, with long term employment of approximately 700 people during operations.Jump to next article