Federal Government unlocks Spencer Gulf Port at Cape Hardy
The Federal Government has announced $25m seed funding in the multi-commodity deep-water Cape Hardy Port Precinct being developed on the Eyre Peninsula in South Australia by Iron Road.
"A deep-water multi-commodity port outside of Adelaide is the number one infrastructure priority in South Australia for AMEC members, " said Warren Pearce, Chief Executive Officer, Association of Mining and Exploration Companies.
"The Federal Government has put money down answering the question of where that Port should be located in the Spencer Gulf."
The benefit-cost ratio to Australia of developing the Iron Road mine, rail and port infrastructure is 1.3, with an NPV of $3,800 million (7% real discount rate).
"Today's announcement brings Iron Road's project a step closer to development, bringing the associated jobs, growth, royalties and opportunities closer to realisation as well."
The proposed infrastructure will be open to others, including grain exporters and other miners in the region.
"That Iron Road's Cape Hardy port is designed to be 'Open Access' and multicommodity from the beginning is a fantastic outcome that will unlock jobs and growth in the port's hinterland,"
"The Commonwealth Government's announcement is great news that will help transform regional South Australia creating jobs and growth," said Mr Pearce.
Read more about the project here.