3 minute read
GoGold announces filing of PEA Technical Report for Los Ricos South South Australia approves Port Playford
ENGINEERED FOR THE HARSHEST CONDITIONS.
United Pipeline Systems’ Tite Liner® HC System provides highperformance corrosion protection in the harshest environments. This thermoplastic lining system has: • superior resistance to collapse and buckling • high-temperature resistance up to 210 °F (100°C) • reliable and safe performance record
Advertisement
Visit us at unitedpipeline.com to learn more.
ups@unitedpipeline.com unitedpipeline.com © 2021 Aegion Corporation
news
South Australia Government approves Port Playford plans
The South Australia State Government has approved a development application by Port Augusta Operations’ (PAO) for a new port facility to be built on the Upper Spencer Gulf.
The approval will allow for the former Port Augusta power station site to be transformed into a modern port, to be called Port Playford, providing export shipping services to existing and future mining operations and projects in the North Gawler, Curnamona and Braemar iron ore regions.
Minister for Planning Vickie Chapman said PAO plans to invest more than $100 million over the next 18 months, unlocking $160 million worth of existing assets currently wasting away at the disused site. “It’s estimated that this development will create more than 100 jobs during construction and 80 permanent positions for ongoing Port operations,” she said. “This development will bolster the local economy and create a pipeline of growth opportunity for Port Augusta. “There is scope for this site to accommodate a range of commodities and activities, including mineral processing,” she added. PAO’s intention is to load commodities onto shallow-draft self-unloading vessels at the facility’s wharf, via existing rail links, to Cape-sized, ocean-going bulk carriers, moored at existing offshore trans-shipment points to the south-east of Whyalla. “The economic benefits of this development are already materialising with the signing of legally binding commitments with key customers,” said PAO managing director Shaun Shan. “Stage 1 of this project has already received more demand enquiries than its proposed capacity, which is fantastic news for our company and South Australia.” “The development strongly aligns with key state, regional and local development directions and will unlock significant economic benefit within Port Augusta and across regional South Australia,” Shan added. Construction is planned to commence in mid-2021 with the first shipment from the port scheduled for late 2022.
news
MBU Capital completes acquisition of Ben’s Creek Carbon Mine
MBU Capital, a privately-owned investment group based in Mayfair, London, has announced the successful completion of Ben’s Creek Carbon Mine.
Set over approximately 10,000 acres in Wharncliffe, West Virginia, USA, Ben’s Creek Carbon Mine holds an estimated 22 million tonnes of metallurgical coal reserves, which will be extracted through high-wall mining and used exclusively for the production of high strength steel. Meanwhile, a five-mile dedicated railway load-out gives the operationally-ready deep well mine direct access to the Norfolk Southern Railway network.
Government expenditure in large scale national infrastructure projects, combined with growth in the construction and the automotive sectors, has spurred the high strength steel market, which is expected to grow globally by CAGR 7.4% between 2020 – 2027. This, in turn, has created opportunities for asset backed investments in metallurgical coal mining and steel production, a core pillar of MBU Capital’s investment strategy under its owner and founding
partner, Mohammed Iqbal. “The manufacturing of steel delivers the goods and services that society needs, from healthcare, telecommunications, improved agricultural practices, better transport networks, to clean water and access to reliable and affordable energy,” said Adam Wilson, head of natural resources at MBU Capital. “But without met coal, there is no steel. “We forecast strong demand for high strength steel over the coming decade, and this acquisition will significantly add to MBU Capital’s portfolio of
precious metals and compound materials.” Once Ben’s Creek Carbon becomes fully operational in July 2021, MBU Capital anticipates the acquisition will directly create and sustain jobs and will also contribute to the economic development of the region in other meaningful ways.
