Despite all the recent angst about Cudeco developing (and owning outright) their rail and port facilities to secure Rocklands mineral exports, it would seem we are not alone in thinking similar such projects are a good idea!
$40m berth investment a boost to region's export future.
A $40-million investment from Glencore and Incitec Pivot into the Berth 8 project is good news for Mount Isa, the city's mayor says. Glencore Port Operations, part of Mount Isa Mines, yesterday said the $86-million project was on track to be operational by April 2014. Jointly funded by the Port of Townville, Glencore Port Operations and Incitec Pivot, the project will secure the long-term export future of mineral concentrates and fertiliser products from North West Queensland.
``The upgraded facilities will have the potential to deliver 2.5 times more ship-loading capacity, improved berth efficiency and significant improvements in environmental performance, securing opportunities for future export growth,'' a Glencore Port Operations spokesperson said.
Mount Isa Mayor Tony McGrady said a multimillion-dollar investment from the company delivered a message that the future of Mount Isa Mines was secure.
``This decision to invest money demonstrates the future of this area and that Townsville has well and truly established itself as the premier mining port for Queensland,'' he said.
Mount Isa to Townsville Economic Development Zone chief executive Glen Graham said the organisation welcomed any project that would improve the efficiency of the supply chain.
``We welcome anything that will help the North West realise its true potential because what you produce, you have to be able to get out efficiently,'' he said.
``MITEZ understands there will be additional new berths and areas for companies to handle their products in the Townsville Port Expansion Plan.''
Graham said this would encourage other companies to invest.
CDU Price at posting:
$1.99 Sentiment: LT Buy Disclosure: Held
