Gindalbie’s Karara Iron Ore Project granted Major Project Facilitation status
Australian iron ore company, Gindalbie Metals has received a significant boost as it moves towards the development of its Karara Iron Ore Project in Western Australia next year, with yesterday’s announcement that the Federal Government has granted Major Project Facilitation (MPF) status to the integrated project.
The Minister for Industry, Tourism and Resources, Ian Macfarlane, made the announcement yesterday, saying the joint venture between Gindalbie and its partner, Anshan Iron and Steel Group Corporation (AnSteel), was another example of the growing trade and investment relationship between Australia and China.As a result of the project being awarded MPF status, the Australian Government’s inward investment agency, Invest Australia, will work with Gindalbie to progress the project through the approvals process and identify any Federal Government programs that may assist it.Gindalbie’s Executive Chairman, George Jones said the grant of MPF status represented a significant development in terms of facilitating the approvals process and reflected positive recognition of the significance of the project as a major future contributor to Australia’s exports and the economy of Western Australia.“We are very pleased to have received this important vote of confidence and support from the Federal Government for development of the Karara Project,” Mr Jones said. “The grant of MPF status gives important recognition of the significance of the Karara Project as a long-term producer of iron products, including high-grade ore, magnetite concentrate and pellets.“It also recognizes the strong relationship between Gindalbie and AnSteel, which underpins the project, and the significant bilateral investment and cooperation embodied in the development of this project,” he said. “The integrated Karara Project will involve a significant investment in mining, processing and transportation infrastructure in the Mid West region, together with a joint investment by Gindalbie and AnSteel in a new pellet plant facility in China.”Mr Jones said the Karara Project was one a of a new generation of iron ore projects in Australia, with a large-scale magnetite deposit at its core and with the involvement of a strong Chinese partner underpinning project finance and development.