Iron Road Limited’s Central Eyre Iron Project approved in South Australia

The Australian iron ore exploration and mining company has been granted, on May 3, a mining lease and development approval for the construction of a rail link and a port as well as a pit mine and a processing plant.

The South Australian government has approved Iron Road Limited’s CEIP (Central Eyre Iron Project) mining and infrastructure project few days ago.

Located on the Eyre Peninsula of South Australia, the CEIP comprises the building of a new 145km rail link and deep-water port at Cape Hardy, near Tumby Bay. Moreover, the company has received authorization to develop an open pit mine, a processing plant and waste storage landform facility.

The cost of the CEIP is estimated at $4.5bn. Around 2,000 jobs are expected to be created during construction phase and 700 others over the 25-year life of the mine.

Iron Road Managing Director, Andrew Stocks said: “The CEIP will employ approximately 1,950 people during construction and 700 during operations, all located on the Eyre Peninsula, in addition to the workforce required in the Adelaide head office.
“The approvals we have received are a direct recognition by the South Australian Government of these and other significant direct benefits for the State."

The company still has to secure financing for the project by the end of the year. China Railway Group Limited is one of the project’s investors.

Andrew Stocks explained: “We are now looking forward to the next stage of our development journey which will include further engagement with stakeholders, preparing our secondary approval applications, reaching a Final Investment Decision together with CREC and ultimately achieving financial close.”