Jobs and investment are set to flow into Port Augusta following an agreement by Flinders Power Partnership to sell the site of the former Port Augusta Power Stations to CU-River Mining Pty Ltd.
South Australian iron ore magnetite producer, CU-River, plans to turn the site into an iron ore and grain transshipment port facility, with the acquisition expected to provide a substantial jobs boost for the Upper Spencer Gulf town.
Once feasibility and approvals are completed, the proposed $250 million port facility is forecast to hold an initial capacity up to 15 million tonnes per annum (TPA), with future potential for more than 50 million TPA through a multi-stage development approach.
The project is estimated to create positions for over 150 people during peak construction and create up to 100 permanent positions once the facility is fully operational.
CU-River’s External Affairs Manager, Shelaye Boothey, said the 1,068-hectare site (approximately the size of the Adelaide CBD) was an important acquisition for the company.
“CU-River has a strong project pipeline and an ambitious growth strategy that will see it headquartered in South Australia for decades to come,” Ms Boothey said.
“The purchase of the site is a significant, strategic decision that allows CU-River to secure a direct export pathway for the 15 million tonnes of high-grade iron ore magnetite it plans to mine each year from 2026.”
“However, it is our intention to develop the port as a multi-user facility, providing Spencer Gulf and far-north industry with further export opportunities,” she added.
Due to the significant size of the site, Ms Boothey states that there is ‘considerable scope’ for the land to be further developed for a number of other uses, including the potential construction of a large-scale solar farm.
“We will be exploring every option to ensure the site’s commercial potential is maximised,” concluded Ms Boothey.