ASX Announcement by Iron Road on the Cape Hardy Port Development Update
Highlights
- Cape Hardy Stage I port development, to initially service grain exports, currently under active discussion with the State government.
- Regional growth opportunity based on detailed analysis commissioned by Eyre Peninsula CoOperative Bulk Handling (EPCBH), principally funded by Farming Together (a Federal farm cooperatives and collaboration pilot program).
- Stage I port capital cost estimate of $167 million, based on CEIP port design by Jacobs (formerly SKM) and supplementary work by BESIX / Watpac and BAM International, aided by an industry cost comparison analysis.
- Continued collaboration between EPCBH and Iron Road converting Cape Hardy freight advantaged benefits into firm export pathway with Free on Board (FOB) charges that will assist Eyre Peninsula growers sustain global competitiveness.
- Strong local community backing in addition to support by member councils of the Eyre Peninsula Local Government Association (EPLGA).
- Registered Indigenous Land Use Agreement (ILUA) with the Barngarla Traditional Owners.
- Federal Environmental Protection and Biodiversity Conservation Act 1999 (EPBC) approval and listed as a priority project by Infrastructure Australia since 2016.
- Cape Hardy ideally suited as a multi-user and multi-commodity port. Beyond grain accumulation and export, the 1,100 hectare site will ultimately accommodate the export of mineral concentrates, import of high-value cargoes and a manufacturing precinct with demonstrated appeal for long-term green hydrogen production and export potential.
- Cape Hardy Stage I financing plan and delivery model to be released within December quarter.