The Asia Miner

JAN-MAR 2019

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

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the asia miner • volume 16 • issue 1 34 AROUND THE REGION Flinders Power has struck and agreement with CU-River Mining to sell the former power staঞon site in Port Augusta, South Australia in a move that promises a jobs boon for the Upper Spencer Gulf town. Cu-River Mining plans to turn the huge site into a bulk commodity, transhipment port facility, with the acquisiঞon expected to provide a substanঞal jobs boon. More than 150 people are anঞcipated to be employed at peak and up to 100 permanent posiঞons will be created once the facility is in operaঞon. CU-River, established in 2014, is a significant South Australian iron ore magneঞte producer with a mine and several highly prospecঞve exploraঞon leases in the far north of South Australia. The facility is expected to have iniঞal capacity up to 15 million tonnes per annum, with future export potenঞal – via a mulঞ-stage development approach – is planned to exceed 50 million tonnes per annum. The AU$250 million port facility will be capable of handling iron ore, grain and other commodiঞes. The company expects to begin operaঞons within two years once feasibility and approvals are complete. This will see the return of commercial shipping to Port Augusta for the first ঞme in almost half a century. The retenঞon of key infrastructure at the site, including a 5-kilometre rail loop and unloading systems, made the site an aracঞve proposiঞon for CU-River. CU-River's External Affairs Manager, Shelaye Boothey, said the 1,068-hectare site was an important acquisiঞon for the company. "CU-River has a strong project pipeline and an ambiঞous growth strategy that will see it headquartered in South Australia for decades to come," Ms Boothey said. "The purchase of the site is a significant, strategic decision that allows CU-River to secure a direct export pathway for the 15 million tonnes of high-grade iron ore magneঞte it plans to mine each year from 2026. "However, it is our intenঞon to develop the port as a mulঞ- user facility, providing Spencer Gulf and far-north industry with further export opportuniঞes." Ms Boothey said that due to the significant size of the site there is considerable scope for the land to be further developed for a number of commercial uses. "We will be examining the feasibility of construcঞng a large-scale solar farm," she said. "We will be exploring every opঞon to ensure the site's commercial potenঞal is maximised. The power staঞon ceased generaঞon in May 2016. Since then, Flinders Power has been responsible for the decommissioning and demoliঞon of the power staঞon and rehabilitaঞon of the site. It's expected the sale of the site will be finalised in early April 2019, once remediaঞon is complete. CU-River acknowledges both the community's keen interest in the future success of the site and the company's obligaঞon and commitment to ongoing rehabilitaঞon. Flinders Power Chief Execuঞve Officer, Peter Georgaris, said the company is commied to meeঞng its closure and rehabilitaঞon obligaঞons. "We are focused on a successful transiঞon to a new and exciঞng future for this significant infrastructure site. I believe the transiঞon of the site into a port facility is an outstanding opportunity for Port Augusta and the region," Mr Georgaris said. Jobs bonanza forecast for AU$250m port facility Acquision will see rebirth of power staon site. Image source ©CU-River Mining

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