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Great the way Politicians put their hand up to take credit for...

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MrKeb

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18/04/24

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Post #: 73409501
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Originally posted by wahr: ↑

Pilbara Ports Authority - First customers secured for new port facilities at Lumsden Point - Public Technologies
18 Apr 2024 03:55:45 PM

Ministerial Media Release
18/04/2024
The first customers for the highly anticipated Lumsden Point facility in the Port of Port Hedland have been secured, with Mineral Resources and Pilbara Minerals each signing a commitment agreement.
The first customers for the highly anticipated Lumsden Point facility in the Port of Port Hedland have been secured, with Mineral Resources and Pilbara Minerals each signing a commitment agreement.
Lumsden Point, funded in part by a $129.1 million contribution from the State Government, will provide new multi-user facilities, including a general cargo berth and minerals export berth. This important piece of infrastructure will expand trade opportunities in the Pilbara, and support growing renewable industries around the world.
The Commonwealth Government is also contributing to this strategically significant project, investing $565 million for common user port upgrades in the Pilbara, including the Lumsden Point facility.
There is already significant demand for the facility, in particular for the export of battery metals and the import of renewable energy infrastructure.
The agreements enable Pilbara Ports, the owner and operator of the facility, to progress securing tenure with Pilbara Minerals and with the Joint Venture between Mineral Resources and Albemarle, allowing them to start developing their new facilities in the port.
Further agreements are expected to be formalised in coming months with additional customers.
These agreements demonstrate the significant demand for additional port capacity in the Pilbara region, which already facilitates the export of $165 billion worth of commodities each year.
Comments attributed to Ports Minister David Michael:
"The Cook Government is delivering on its commitment to diversify trade in the Pilbara by progressing this development at Lumsden Point.
"The project has been progressing rapidly, with the seawalls at Lumsden Point nearing completion, enabling the next stages of the project to get underway, including dredging and causeway construction.
"It's fantastic to see the first customers secured, a crucial step in the overall project.
"The Cook Government continues to invest in infrastructure that fuels future prosperity and supports regional jobs growth."
Comments attributed to Pilbara MLA Kevin Michel:
"These agreements help underpin the feasibility and importance of the Lumsden Point facility.
"They are also great news for the ongoing economic development and diversification of Port Hedland and the broader Pilbara region."

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Great the way Politicians put their hand up to take credit for something that has taken no effort on their part. The facilities at Port Headland required upgrading. PLS and MIN were both frothing to get improvements that eliminated bottlenecks in shipping. Expect the pollies now to expect credit for reducing red tape.

PLS Price at posting: $3.89 Sentiment: Hold Disclosure: Held
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