- Havilah Resources (HAV) has signed an agreement with Port Augusta Operations (PAO) for the use of an iron ore port and transhipment facility
- PAO is refurbishing the old Port Playford into a modern iron ore export terminal
- Havilah will utilise this facility to export high quality iron ore from its Braemar projects
- Braemar is located near the port facilities and contains three multi-million tonnage ore deposits
- Once developed, the company expects to be in an internationally competitive position
- Havilah Resources is down 8.99 per cent, with shares trading for 8.1 cents each
Havilah Resources (HAV) has signed a memorandum of understanding with Port Augusta Operations for the use of an iron ore port and transhipment facility.
Port Augusta Operations (PAO) is in the process of developing the port land and terminal facilities into a modern iron ore export terminal that will involve refurbishment, upgrading and other arrangements.
It will hold a 99 year lease over the former Port Playford, near Port Augusta in South Australia. It already includes land and port terminal facilities with a rail loop, unloading facility, sea wall, roads and storage sheds.
Once the port development is complete, PAO will provide services for Havilah to export its iron ore.
“Port Augusta Operation’s proposed port and transhipment facility is approximately 300km by existing rail link from Havilah’s Braemar iron ore deposits, so it potentially provides a favourable logistical solution for us,” Havilah Technical Director Dr Chris Giles said.
“Our Maldorky and Grants iron ore deposits in turn are located in close proximity to the transcontinental rail line, meaning reduced capital expenditure on logistics,” Chris added.
Havilah has total ownership of the three recent Braemar Formation iron ore discoveries, namely Maldorky, Grants and Grants Basin.
Maldorky has a JORC Indicated Mineral Resource of 147 million tonnes at 30.1 per cent iron, Grants has a JORC Inferred Mineral Resource of 304 million tonnes at 24 per cent iron and Grants Basin has potential exploration target of between 3.5 and 3.8 billion tonnes at 24-28 per cent iron.
The nature of the iron ore minerals effectively means iron ore can be upgraded to a high quality 65 per cent iron ore product with high yields. This has significant potential to position Havilah’s iron ore deposits at internationally competitive.
“We are therefore pleased to have signed this MOU and to encourage development of this well located new dedicated iron ore export port on the eastern side of the Spencer Gulf,” Chris concluded.
Havilah Resources is down 8.99 per cent, with shares trading for 8.1 cents each at 2:35 pm AEDT.