You are correct in saying that that there are no port facilities in place- best estimate is 2 years before first ore into a trans-shipment vessel.
BUT.
You are incorrect in the assumption the owners of the port do not look like big players.
The port operations has one business name but the overall owners of the operation have a different business name. They are also a mining company that is currently mining. They have a lot of money behind them.
Go back through some announcements regarding the port and you will see who i am referring to.
Ann: MOU For Use of Port Augusta Iron Ore Export Terminal, page-12
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