Apollo Minerals sizes up Port Pirie option

THE BOURSE WHISPERER: Apollo Minerals a Memorandum of Understanding (MOU) with Flinders Ports to investigate optimal port export services for up to 2.5 million tonnes per annum of iron ore exports from the company’s Commonwealth Hill iron project (CHIP), situated in the Gawler Craton of South Australia.

 

Source: Company announcement

The company said it intends to use the Port Services MOU to secure capacity at Port Pirie for exports of iron ore products from CHIP.

“Securing port services for the export of iron ore products from CHIP is an important milestone in the development of this project,” Apollo Minerals chief operating officer Dominic Tisdell said in the company’s announcement to the Australian Securities Exchange.

“Apollo looks forward to working closely with Flinders Ports to ensure the next phase of growth for South Australia’s expanding iron ore industry.”

Apollo said it intends to assess the feasibility of exporting from Port Pirie via a transhipment arrangement similar to the arrangement employed by OneSteel at its Port Whyalla export facility in the Spencer Gulf.

In March this year, Carpentaria Exploration announced its plans to investigate establishing a 20mtpa common user iron ore export facility at Port Pirie, of which it would seek to lock in 5mtpa of export capacity.

Apollo’s desired allocation of 2.5mtpa now takes the initial allocation at Port Pirie under investigation to 7.5mtpa.