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Published on Feb 25, 2014
Iron Road is developing the largest magnetite project in Australia. The release of the company's definitive feasibility study (DFS) in February 2014 confirmed a technically sound and highly profitable project that can supply 21.5 million tonnes per annum of premium, high quality product. The low impurity concentrate also has the benefit of assisting steel mills to reduce their emissions output by producing less pollution than inferior lower quality products.
Over the next four years, Iron Road will construct a US$4 billion integrated supply chain consisting of a mine, rail and deep water port operation on the Eyre Peninsula in South Australia. The Central Eyre Iron Project (CEIP) has a confirmed 25 year mine life, potentially bringing in US$2.8 billion annually, with port capacity also available for third party exports. The port, at Cape Hardy, will be South Australia's first port capable of loading Cape-size vessels. Planning is already underway for a further drilling campaign which will extend the mine life beyond 30 years. Longer term opportunity exists to link the CEIP rail system into the Australian rail network.
During construction, the CEIP is expected to involve a peak workforce of around 1,950 and a permanent operations workforce of 700 personnel. Iron Road is working with communities to bring about real and lasting benefits for local residents and to South Australia.