re: Ann: S.A. Government Approves Port Develo... Fortescue have just released a statement saying due to Chinese demand for IO, they don't expect the price to fall below $115 for the next 2 years. Rio is spending $400M to expand production in the Pilbara and BHP also expanding Port Hedland infrastructure to cope with increasing demand.
All this says to me that IO prices look strong in the short to medium term, which is just what we need to finance our expansion to stage 3. Once we have reached that stage I see a multi-user railway and a part-government financed deepwater port (channel dredging)to allow larger bulk carriers in for the other miners on the Eyre Peninsula.
Where that port will be is anyone's guess, but without it, the export tonnages will always be restricted.
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