CZR Resources (ASX: CZR) has progressed on the proposed export facility at the Port of Ashburton and has provided an updated for the timing for delivery of the definitive feasibility study (DFS).
The Pilbara Ports Authority (PPA) has reviewed the Port of Ashburton Consortium joint venture (PAC JV) project definition document for the iron ore export facility, and provided conditional support subject to approvals from EPA, Main Roads WA, and Shire of Ashburton.
Following its review, the PPA has agreed for the PAC JV to submit a development application for the POA export facility. CZR has said this consent represents a significant development for the project. The PAC joint venture has so far been focused on developing a multi-user bulk mineral export facility at the Port of Ashburton, with an export capacity of 5Mtpa.
CZR managing director, Stefan Murphy, said “This is a pivotal decision and fantastic outcome for CZR. It demonstrates our ability to work pro-actively with our partners to unlock the enormous value of the Robe Mesa project. We appreciate the positive feedback from the PPA and look forward to continuing the cooperative engagement so that its position and that of local stakeholders is well informed and respected.”
Additionally, The POA export facility was initially planned to be located along the western side using PPA’s western quay of the Port of Ashburton. However, after consideration of the traffic flow and shed capacity to minimize interactions with other port users, it was requested that the PAC JV move its facility to the eastern side and utilize PPA’s eastern quay.
The facility is considered to be in a superior location to support sustainable, low-cost, and long-term iron ore exports from the Port of Ashburton. CZR holds a 50% interest in the PAC JV, with CSL Australia (25%), and Strike Resources (25%).
CZR is now finalizing the definitive feasibility study (DFS) with the updated POA Export Facility designs and capital estimates, as well as updating the ore reserve estimate with the inclusion of the low-grade iron ore.
“With the PPA support for the DA submission, we can finalize the DFS for the Robe Mesa Project. The study will detail the development plan across the whole supply chain and outline the excellent financial returns of the project which are expected to improve significantly on the back of increased ore reserves and the increasing iron-ore price.” Said Mr. Murphy.
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