02/08/2011 - 14:29

IronClad gains access to SA port

02/08/2011 - 14:29

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Perth-based iron ore miner IronClad Mining has secured full access to a 50 hectare site with harbour frontage at Lucky Bay in South Australia.

The company said today it had exercised an option with South Australia’s Sea Transport Corporation over the port facilities, which paves the way for it to commence a two stage trans-shipping operation early next year.

The first stage would see direct shipping magnetite transported from IronClad’s 80 per cent-owned Wilcherry Hill mine loaded on containers at Lucky Bay and transferred to vessels anchored offshore.

IronClad said it anticipated being able to deliver up to 12,000 tonnes per day through stage one.

The second stage would commence once a proposed floating harbour is commissioned and would see IronClad ship around 24,000 tonnes per day.

The floating harbour will be anchored around 10 kilometres offshore and be capable of docking 150,000 tonne cape-size transport vessels.

Final government approval for the port at Lucky Bay is expected towards the end of the year.

IronClad chairman Ian Finch said the multi user port and floating harbour would provide an important port outlet and significant cost savings for the Wilcherry Hill project.

Mr Finch said although Wilcherry Hill would be commence as a relatively small project, it would expand rapidly to a production target of over 10 million tonnes or ore each year.

At close of trade today IronClad’s stock was steady at 68 cents.

 

 

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