South Australia’s first common-user export facility is set to become a reality after State Government planning approval.
Emerging Australian iron ore producer IronClad Mining said today the State Government had approved the company’s amended application for ore loading at the port of Lucky Bay on the Eyre Peninsula.
The Development Assessment Commission (DAC) approval was successfully concluded and issued on Friday.
IronClad said that the crucial government approval was the “government green light” for the Wilcherry Hill Iron Ore Project on South Australia’s Eyre Peninsula.
IronClad will use the export facility – at Lucky Bay, near Cowell, on the Spencer Gulf and about 150 kilometres south of the Wilcherry Hill mine, near Kimba – to store and ship iron ore to an offshore vessel using a unique loading system it has developed.
“This is a significant milestone in the history of this company,” IronClad Mining managing director Robert Mencel said.
“We now have all the regulatory approvals in place which allows us to commence of the Wilcherry Hill Iron Ore Project,” he said.
“With the last link of the infrastructure chain now completed – we can now accelerate and finalise our current financial negotiations to ensure the project commences as soon as practical.”
The DAC application was made in order to amend the previous requirement to transport ore in closed containers from the mine site, 40km north of Kimba, to the wharf side at Lucky Bay.
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IronClad’s application requested the establishment of a modest bulk ore stockpile facility at the port.
The company said today the approved reduction of required container numbers from over 3000 to 250 would remove a significant financial impost to the project.
Shares in IronClad opened at 18 cents today.
They had risen sharply during October from 14 cents to 23 cents before settling in November and going into a trading halt on Friday pending today’s announcement.
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