construction commencing this december

Great News!!!

Go You Good Thing......

http://money.ninemsn.com.au/article.aspx?id=871728

Gindalbie project to start in December
5/10/2009 7:48:01 PM
Gindalbie Metals Ltd says it is poised to commence construction of its $1.8 billion Karara iron ore project in Western Australia's midwest region before the end of the year.

"With the final state environmental approvals signed off during September, we will be well and truly on track to start construction at Karara early in the December 2009 quarter," incoming chairman Geoff Wedlock said in the company's annual report on Monday.

Outgoing chairman George Jones said in the report that a new steel mill owned by the company's joint venture partner and largest shareholder, Angang Group Hong Kong (Ansteel), "awaits the arrival of our first shipment of magnetite concentrate from Karara".

Chief executive Garret Dixon said the company aimed to commence hematite production by early 2011 and magnetite production by mid-2011.

Initial production totalling 10 million tonnes per annum will be exported through Geraldton Port.

The company expects to become a foundation customer of the planned new deepwater port at Oakajee, north of Geraldton, for expanded output thereafter.

Mr Jones has led a chorus of complaints from WA's mining sector about lengthy delays experienced with the state's approvals processes.

"The Karara project took the best part of three years for approval," he said.

"There is no doubt that the approvals process in WA remains unacceptably slow, over-complicated and in need of a major overhaul, and I am pleased to see the government is addressing this as a major issue."

Gindalbie was recently successful in appealing against key conditions and recommendations by the WA Environmental Protection Authority regarding the Karara project.