THE BOURSE WHISPERER: Iron Road Limited (ASX: IRD) has had the infrastructure component of the company’s Central Eyre iron project (CEIP) located on South Australia’s Eyre Peninsula declared a major development by the South Australian Minister for Planning.
The company said the declaration recognises the importance to the state of South Australia of its integrated iron export project, which is anticipated to export 20 million tonnes of high-grade iron concentrates annually.
Iron Road believes the declaration ensures project approvals will occur in a co-ordinated and timely fashion across all State Government departments.
“I am very pleased that the Minister shares our recognition of the significance of this infrastructure development for the State,” Iron Road managing director Andrew Stocks said in the company’s announcement to the Australian Securities Exchange.
“As the biggest active resource development in South Australia, we look forward to continuing to work co-operatively with both State and regional authorities, alongside local communities.”
Major development status may be declared by the SA Government if a development is considered to be of major economic, social or environmental importance to the State.
The declaration was made by the Minister for Planning, John Rau, and followed a submission by Iron Road, which established the importance of the infrastructure component of the CEIP, which links the proposed mine to the proposed port at Cape Hardy on the eastern Eyre Peninsula, and the expected benefits of the infrastructure for the State and Eyre Peninsula region.
Iron Road is working to create an integrated iron export operation on the Eyre Peninsula, exporting 20 million tonnes per annum of high-grade iron concentrates.
Iron product for CEIP will be mined and concentrated on the central Eyre Peninsula, then shipped by rail to the proposed Cape Hardy deep sea port.
The port is expected to have 30 million tonnes per annum of export capacity, with 10 million tonnes per annum available for third party users.
Iron Road said it would now prepare its Development Application for consideration by the Minister.
The Development Application will cover the proposed Cape Hardy deep water port and an associated infrastructure corridor, both of which are essential to enable the export of iron concentrate from Iron Road’s proposed mine and to enable third party exports.
The proposed 150 kilometre infrastructure corridor will include a standard gauge rail line, service road, power supply and a seawater pipeline to supply processing water to the mine site.
Mining operations are not included in the scope of the declaration as this will be applied for separately under the Mining Act.