Gindalbie to start Karara iron ore project in December
Tuesday, 06 Oct 2009
Gindalbie Metals Limited that that it is poised to commence construction of its USD 1.8 billion Karara iron ore project in Western Australia's mid west region before the end of the year.
Mr Geoff Wedlock incoming chairman of Gindalbie said that "With the final state environmental approvals signed off during September, we will be well and truly on track to start construction at Karara early in the December 2009 quarter."
Mr George Jones outgoing chairman of Gindalbie said in the report that a new steel mill owned by the company's JV partner and largest shareholder, Angang Group Hong Kong, awaits the arrival of our first shipment of magnetite concentrate from Karara.
Mr Garret Dixon CEO of Gindalbie said that the company aimed to commence hematite production by early 2011 and magnetite production by mid 2011. Initial production totaling 10 million tonnes per annum will be exported through Geraldton Port.
Mr Jones has led a chorus of complaints from WA's mining sector about lengthy delays experienced with the state's approvals processes. He said that "The Karara project took the best part of three years for approval. There is no doubt that the approvals process in WA remains unacceptably slow, over-complicated and in need of a major overhaul, and I am pleased to see the government is addressing this as a major issue."
Gindalbie was recently successful in appealing against key conditions and recommendations by the WA Environmental Protection Authority regarding the Karara project.
