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Author: blesto Big red star, 1000 posts Global Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 195  
Subject: Esperance port expansion Date: 1/22/2012 6:48 PM
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Esperance port expansion seen as big win for Yilgarn iron-ore growth
The Western Australian Chamber of Minerals and Energy (CME) on Friday welcomed the state government’s commitment to expand the capacity of the Esperance port.
Transport Minister Troy Buswell said this week the decision to expand the port’s capacity from the 11-million tons to a potential 20-million tons a year was influenced by a recently completed study into the Yilgarn province’s burgeoning iron-ore industry, and the fact that A$120-million was being spent to upgrade the port’s road and rail access.
“The Yilgarn province is a rapidly developing iron-ore region and, based on current iron-ore prices, has the potential to earn the state up to A$150-million a year in royalties, which can be invested into schools, hospitals, roads, police and other essential services for the community,” Buswell said.
He noted that currently, around 12-million tons of iron-ore was produced in the Yilgarn province, with the district potentially able to produce 15-billion tons of magnetite and one-billion ton of high-grade heamatite ore.
The CME said the state commitment to expanding Esperance would see the port develop into a vital strategic export route for Western Australian resources.


More...http://www.hellenicshippingnews.com/News.aspx?ElementId=deaa...
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