THE BOURSE WHISPERER: IronClad mining has received approval from the South Australian Government on development application for port facilities designed for iron ore shipments from the company’s new Wilcherry Hill mine.
The Wilcherry Hill iron ore project is located on the Eyre Peninsula and is an 80:20 Joint Venture between IronClad and Trafford Resources.
The company said the government go-ahead concludes all the processes required for it to commence construction of infrastructure at the existing Lucky Bay port.
“We are most appreciative of the South Australian Government’s expeditious approval of this Development Application for another vital piece of South Australian mining infrastructure,” IronClad Mining managing director Wayne Richards said in the company’s announcement to the Australian Securities Exchange.
“For IronClad, development approval for the port facility finalises the company’s requirements for an ‘end-to-end’ logistics supply chain for the ore produced from our Wilcherry Hill project, and has the potential to be expanded to accommodate the ore from our larger Hercules project currently under review.
“The port facility will provide an important export point not only for IronClad, but for other potential mining companies and exporters in the region.”
IronClad said its iron ore export facilities open up a new multi-user shipping avenue for South Australian exporters.
The company will initially use its facilities at Lucky Bay facility to transport iron ore to ships anchored offshore adjacent to the port.
IronClad’s growth plans could potentially upgrade this system to incorporate a floating harbour, with suitable holding warehouses for the ore, both on land and at sea.
Cape-sized vessels with a carrying capacity of up to 150,000 tonnes could then be loaded with iron ore from the floating harbour, which would potentially be owned and operated by IronClad.
IronClad has an agreement with Sea Transport Development SA (SEATS) for full access rights to the designated 50-hectare port site at Lucky Bay, where it will store and ship iron ore from its Wilcherry Hill and Hercules projects.
The company has a 50-year lease to this facility and the accompanying land within the 50-hectare site.