- Hawsons Iron (HIO) secures a two-year option agreement to purchase land at Myponie Point on South Australia’s eastern Spencer Gulf
- The agreement gives the right to purchase three blocks of land totalling 1000 acres suitable for developing an export facility for the Hawsons iron project
- The purchase for the three blocks of land is $14 million and can be payable at any time within two years of the execution date
- Myponie Point Port is expected to be ready to start exporting Hawsons’ unique 70 per cent iron “Hawsons Supergrade” magnetite concentrate by the second half of 2024
- Shares in Hawsons Iron were up 2.27 per cent to $0.45 as of 10:17 am AEST
Hawsons Iron (HIO) has secured a two-year option agreement to purchase three contiguous parcels of land at Myponie Point on South Australia’s eastern Spencer Gulf.
The agreement gives the company the right to purchase the three blocks of land — totalling 1000 acres and suitable for developing an export facility for the Hawsons iron project — for $14 million at any time within two years of the execution date.
Managing Director Bryan Granzien said the agreement strategically underpins the memorandum of understanding (MOU) executed with Flinders Ports.
This is said to help the company move towards its goal of supplying high-grade products, essential for decarbonising steel-making.
“This agreement secures a crucial export site required for the planning and development of our 20 [million tonnes per annum] project and importantly provides significant additional space to accommodate expansion of the Myponie Point Port into a multi-user, bulk commodity export facility,” Mr Granzien said.
“Now that we have identified our port location, planning and detailed design work can continue on the deep-water port facility and the underground slurry pipeline from Broken Hill, including all approvals and land access agreements along the 392-kilometre pipeline route.”
Mr Grazien also said the company stands to gain from future opportunities to participate in the growth of the port as its “cornerstone” customer by securing additional space required to support development and expansion.
Myponie Point Port is expected to be ready to start exporting Hawsons’ unique 70 per cent iron “Hawsons Supergrade” magnetite concentrate by the second half of 2024.
Shares in Hawsons Iron were up 2.27 per cent to $0.45 as of 10:17 am AEST.