New Cape York bauxite venture starts shipping

Green Coast Resources has achieved its maiden bauxite shipment from the barging and transshipping facility at Hey Point near Weipa on the west coast of Cape York. Fellow bauxite developer Metallica Minerals celebrated the milestone, saying it would use the same infrastructure for its anticipated production in the first half of 2017 from its nearby Urquhart bauxite project. Metallica provided working capital to GCR via a short term loan to assist that company’s successful maiden bauxite export from the Hey Point facility. Under the terms of the loan, GCR is now bound to provide transshipping services and access to Metallica. Metallica chief executive officer Simon Slesarewich congratulated GCR in becoming the first independent company to export bauxite from Cape York since 1963. Metallica chief executive officer Simon Slesarewich. "The ability to transship bauxite into ocean going export vessels, utilising the Hey Point barge loading facility, validates Metallica’s decision to choose the low capital cost and established facilities at Hey Point as its logistics solution for Urquhart Bauxite," he said. "The established and now tested infrastructure delivers a real solution to export markets for bauxite product from our project.” Metallica Minerals also announced this week that it had received notice from Queensland’s Department of Environment and Heritage Protection confirming that the Urquhart bauxite project would not require an Environmental Impact Statement (“EIS”) to be completed. The Queensland Government determination followed Federal Government advice also confirming that Urquhart Bauxite did not require an EIS and would be assessed via preliminary documentation. “We are extremely pleased that the hard and diligent work completed by our Joint Venture team and its consultants - to understand and develop a sustainable bauxite mining development plan on our deposits just south of Weipa on Cape York - has been recognised by both the Queensland and Commonwealth Governments," Mr Slesarewich said. "This most important determination should see a mining lease being granted in the first quarter of 2017, allowing mobilisation of mining contractors to commence immediately after the 2016/17 wet season. We anticipate that this in turn will deliver first production from Urquhart bauxite during the second quarter of 2017. ” Green Coast Resources achieves its maiden bauxite shipment from the Hey Point facility.

New Cape York bauxite venture starts shipping

Industry Queensland

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