Fortescue Metals unveils concept for new mine, new rail and new port

The project, known as Solomon is expected to cost around US$3,34bn.

Within the next two years Western Australia’s big new iron ore miner Fortescue Metals Group Ltd (ASX: FMG) will decide whether it will open up a new iron ore mining area in the Pilbara of Western Australia.

The project known as Solomon was detailed at the Sydney Mining Club and was said to have a development cost of A$3.6 billion (US$3.34 billion).

Fortescue launched its operations through the Cloudbreak mine in the Chichester Range to export to China through a port developed by the company at Anderson Point in Port Hedland. The company has started development on its second mine, Christmas Creek, also in the Chichester Range.

Solomon is well west of Cloudbreak. It was indicated the company’s capacity out of Port Hedland may cater only for ore from the Chichester hub, so a second port and new rail link would be required to a Pilbara port at Anketell Point – particularly if Fortescue ramps up beyond 155 million tonnes per annum of export ore.

The cost of developing Solomon would take in A$850 million (US$790.8 million) for the mine, a similar amount for the railway, and A$700 million (US$651.3 million) for processing plant

The company claimed that while a lot more drilling was required the Solomon hub had potential to be much larger than the Chichester Ranges operations, currently mining at a rate of 38 Mtpa and gearing to increase to 95 Mtpa.

The Solomon mine could begin at 60 Mtpa, expanding to 100 Mtpa.

While Cloudbreak and Christmas Creek are bedded iron formations, not mined elsewhere in the Pilbara at this stage, Solomon has a mix in its iron ore geology and includes what is known as channel iron deposits.

Sydney Mining Club delegates were told that exploration in the Pilbara in the past five years has yielded reserves and resources for Fortescue of 6.3 billion tonnes, including reserves of 1.6 billion tonnes.  The discovery cost was put at A2cents a tonne.

Fortescue dominates the landholdings for iron ore in the Pilbara with 17,400 square kilometres, compared to Rio Tinto with 11,000 sq km and BHP Billiton 6,500 sq km.

Fortescue’s holdings include a large number of coastal and offshore tenements, assumedly for ironsands shed over the eons. The company also holds coastal and offshore tenements in New Zealand for ironsands.

Source  :  www.mineweb.co.za

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Nullarbor Links – The World’s Longest Golf Course

The Nullarbor Links concept is unique.

The 18-hole par 72 golf course will span 1,365 kilometres with one hole in each participating town or roadhouse along the Eyre Highway, from Kalgoorlie in Western Australia to Ceduna in South Australia.

Each hole will include a green and tee and somewhat rugged outback-style natural terrain fairway.

The course would provide a quintessential Australian experience.

Source  :  www.nullarborlinks.com

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Perth waterfront plans unveiled

The Government has released its scaled-down idea of what it wants the Perth waterfront to look like – but it’s after the same effect as at some of Australia’s best-known sites.

Premier Colin Barnett yesterday unveiled proposals radically different from those suggested by his Labor predecessor Alan Carpenter.

 The plans include a mix of civic, commercial, residential, retail, education and cultural areas.                 

Premier Colin Barnett yesterday unveiled proposals radically different from those suggested by his Labor predecessor Alan Carpenter.the foreshore, similar to those in Sydney’s Darling Harbour and Circular Quay and Melbourne’s Southbank,” Mr Barnett said.

Unlike Mr Carpenter, who committed the Government to fully-funding his vision, Mr Barnett wants a mixture of public and private capital.

Mr Barnett said the new plans aimed to feature world-class architecture “without being over the top”.

“Western Australians have been shown many plans for the foreshore over many years and nothing has actually happened,” he said.

“The Government does not want to impose yet another grand vision on the WA community. This is a more modest concept that shows a ground-scale depiction of what could be developed.”

Mr Barnett said his plans provided for greater public access, while the previous government wanted to develop “monuments” that blocked off the river from the public.

“It would have been an enclave for the wealthy and businesses.”

Work on the project was expected to start within 18 months.

Source  :  www.watoday.com.au

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Ocean Reef Marina Concept Plan

The Concept Plan and Structure Plan that details how the Ocean Reef Marina site should be developed and how it should look in the future.

The concept plan has been developed using feedback and input from the Community Reference Group, Ocean Reef Marina Committee (of Council) and the Ocean Reef Marina Steering Committee.

Based on input from the above, the key issues identified in developing the Ocean Reef Marina site were the provision of: 

• An iconic marina development accessible to all residents                                    
• First class boating facilities and infrastructure
• Quality marine recreation facilities
• Best practice environmental conservation and preservation 

The Ocean Reef Marina development has the potential to provide the City’s residents with a world class recreational, residential, boating and tourism marina, development that encapsulates high levels of environmental sustainability, community amenity and delivers economic growth and social benefit. 

Preliminary studies and research in the areas of environmental impact and sustainability, structure planning, coastal engineering and hydrology, and financial and commercial viability have been completed and indicate that the site does have the potential for a development of this nature.

Source   www.joondalup.wa.gov.au

 

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First-homebuyers urged to take mortgage help on board

An innovative house and land finance package developed in Perth could help more first-homebuyers to secure a home loan reduce their loan repayments. 
  
Based on a four-bedroom, two-bathroom home using part of the home as a rental, therfore allowing first-homebuyers  to afford a buy, part of the home is sealed off from the rest, creating a rentable one-bedroom, one-bathroom home.
  
The rent is taken into account when assessing borrowing capacity and surplus income can be used for bigger mortgage repayments.
  
Housing Edge director Dennis Ward-Fay said the new approach would bring home ownership within the reach of many more first-homebuyers.    
  
“Every application has to be assessed on its own merits but as an example the top four banks would require a couple borrowing for a house and land package valued at $380,000 to be earning an average salary of $63,275. The same couple applying for a Housing Edge loan would require a combined salary of only $56,510.
  
“The home can easily be converted back to a standard four-bedroom, two-bathroom home at a later date if the owners wish,” he said.
 
Homeowners are advised to use a property manager to handle the rent collection and tenancy details.

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