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http://www.northweststar.com.au/story/305399/cudeco-seals-port-deal/?cs=191
Cudeco seals port deal Save

Sept. 6, 2012, midnight


CLONCURRY-based miner CuDeco Limited will begin constructing its $36 million mineral concentrate receival and export facility at the Port of Townsville from January next year.


The ASX 200 listed company signed a lease yesterday with Port of Townsville Limited, taking up one and a half hectares of port land and access to Berth 4 for the export of its copper-cobalt concentrate product.

CuDECO Logistics Manager John Green said production from the open-cut Rocklands Group Copper Project, located about 15 kilometres northwest of Cloncurry, was expected to begin in November next year.

Initial production tonnages are forecast to be about 350,000 tonnes of mineral concentrates per annum, plus additional refined mineral products.

It is anticipated throughput will increase up to 800,000 tonnes per annum as the mining operation matures.

"This is a great day for us and a great day for the communities of Cloncurry and Townsville which stand to benefit from the significant employment and supply opportunities that come with this exciting project," Mr Green said.

"With this vital piece of our supply chain squared away we can start our detailed design in earnest, commit some money, and begin construction with a view of exporting by late 2013."

Cloncurry Shire Council Mayor Andrew Daniels said he was happy that CuDECO had got their lease.

"They've been working through on this for three years trying to get the port lease.


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"This is part of the reason mining companies just give up here in the North West - the bureacracy and red tape surrounding our infrastructure," Mr Daniels said.

Port of Townsville Limited CEO Barry Holden welcomed CuDECO's decision.

"This export solution shows an excellent use of existing port assets and new purpose-built infrastructure to enable a company to deliver its product to the world," Mr Holden said.

"We will be watching with interest as the facilities take shape, adding to the Port of Townsville's already impressive industrial landscape and look forward to the first product over a wharf."