If approved, the $5 billion infrastructure corridor will include pipelines for water and iron ore slurry, power networks and fibre optic communications.
It will be used to transport iron ore from the north-east of the state to a floating storage, processing and offloading facility in the Spencer Gulf, off Yorke Peninsula, north of Wallaroo.
Gordon Toll from Braemar Infrastructure said about $3 billion would need to be raised and a development application lodged before the project could go ahead.
“We’re a private company, we’ll probably stay that way for some time because one of our major sources of finances will be private equity, private equity groups, there is a lot of money out there for private equity, investment groups looking for something just like this to invest in,” he said.
“The project will allow for an eight-fold increase in the amount of iron ore currently being exported and provide a 385-kilometre infrastructure corridor.”ť Mr Koutsantonis said.
Deputy Premier and Planning Minister John Rau said: “Major development status allows for the most sophisticated and thorough set of planning approvals available within our planning regime.
“There is a strong level of scrutiny applied to the project’s assessment, with significant consultation requirements.”
Infrastructure and Mineral Resources Minister Tom Koutsantonis said in a statement on Tuesday: ”When fully developed the project has the potential to increase the state’s exports of iron ore concentrate from 12 million to more than 100 million tonnes per year.”
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Reference: Mining Project Jobs for SA
Learn more about the Bowen Basin mining location.
The Bowen Basin contains the largest coal reserves in Australia. This major coal producing region contains one of the worldâ€™s largest deposits of bituminous coal.
The Basin contains much of the known Permian coal resources in Queensland including virtually all of the known mineable prime coking coal. It was named for the Bowen River, itself named after Queenslandâ€™s first Governor, Sir George Bowen.
The Bowen Basin covers an area of over 60,000 square kilometres in Central Queensland running from Collinsville to Theodore and is dotted with many coal mines operated by multiple mining companies.
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Resources and Infrastructure Industry (RII)
Commonly refered to as Black Coal Competency (BCC), the RII competency is one that can be attained by an operator who has previously worked in the industry and has completed a number of operating hours on various types of machinery.
RII competency is granted to prove correct and safe operation of mine site machinery. It is a very useful qualification to have, as it confirms the operator has the required experience and expertise.
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