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Wednesday, 11 February 2015

Queensland Bauxite signs HOA with FNQPC

Mining firm Queensland Bauxite has signed an agreement with the Far North Queensland Ports Corporation (FNQPC) to secure capacity at the Port of Mourilyan for output from its planned South Johnstone mine.

The South Johnstone project is anticipated to cost $4 million and will require capacity to ship an initial 800,000 tonnes per year. The two firms signed a heads of agreement (HOA) outlining their joint strategy.

“Logistics, and in particular port capacity, are key to our commercialisation strategy, especially to markets in Asia,” Pnina Feldman, Queensland Bauxite executive said.

The deal will see bauxite from the South Johnstone mine transported 24 km to the Port of Mourilyan and it is hoped that environmental approvals and mining leases will be granted in time to allow for production to start in the second half of 2015.

“This HOA is an important and necessary step in confirming our commercial path to market and gives us further confidence in our ability to execute on our strategy of exporting product to our key seaborne bauxite markets,” Feldman added.

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