PAC JV cleared for milestone developmentSeptember 29, 2023
The Port of Ashburton Consortium joint venture between CZR Resources, CSL Australia, and Strike Resources has received conditional support for its proposed iron export facility after a project definition review from the Pilbara Ports Authority
Support is still subject to approvals but has cleared the way for a milestone Development Application and completion of a Definitive Feasibility Study.
New designs in a superior Eastern Quay location further support low-cost, long-term, sustainable export operations and inclusion of lower grade ore will be included in a study being finalised for completion next month.
CZR Managing Director Stefan Murphy said it was a pivotal decision, and a fantastic outcome.
“It demonstrates our ability to work pro-actively with our partners to unlock the enormous value of the Robe Mesa project,” Mr Murphy said.
“We appreciate the positive feedback from the PPA and look forward to continuing the co-operative engagement so that its position and that of local stakeholders is well informed and respected. With the PPA support for the DA submission, we can finalise 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.”
Robe Mesa is the most advanced of CZR’s iron ore assets and is expected to produce a product similar to Rio Tinto’s low phosphorus Robe Valley Fines mine.
CZR see a low strip ratio, low capex Direct Shipping Ore project offering a quick and low-budget production path from an ore reserve of 8.2Mt at 56.0% Fe within an 84.5Mt at 53.8% Fe resource.
The company also holds the nearby Ashburton magnetite project, and alongside Strike’s Paulsens East assets, the ore is in place and the PAC JV another step closer to operating a multi-user bulk export facility in the Australian Pilbara.
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