Home NewsAustralia Rex Minerals pushes ahead with Yorke Peninsula mine plans

Rex Minerals pushes ahead with Yorke Peninsula mine plans

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Mining big Rex Minerals has introduced will probably be in search of financing of $850 million {dollars} to start development on its Hillside Copper-Gold Undertaking on the Yorke Peninsula.

The mine is anticipated to provide 42,000 tonnes of copper and 30,000 ounces of gold every year for the primary 11 years of operations.

It should additionally create 500 jobs throughout development and greater than 400 jobs when it turns into operational, which is anticipated to be on the finish of 2025.

Rex Minerals CEO Richard Laufmann stated there have been many events exhibiting monetary curiosity.

“We have got fairly a number of native buyers on the register, and we have now a whole lot of curiosity from native suppliers and contractors,” Mr Laufmann stated.

A computer generated image of what the mining site will look like.
Rex Minerals says the positioning is prepared for improvement.(Equipped: Rex Minerals)

“We’ll even be talking to native and worldwide banks and with the world shifting to electrification, you may’t even take step one with out copper.

“Whether or not you utilize a coal-powered station or photo voltaic, you want copper to transmit the ability.

“We’re at a altering level in historical past the place we wish to clear the planet, scale back the air pollution, and electrify, and the very first thing you are going to want is copper.”

He stated the challenge was about “the way forward for the planet”.

“We’re not knocking over native forests and we’re not clearing any land that has native species residing on it,” he stated.

Farmer expresses doubt

Pine Level farmer Brenton Davey lives subsequent door to the challenge and stated his farm could be integrated into the mine if it went to plan.

“They nonetheless must get a waiver of exemption from me so there’s nonetheless a whole lot of hurdles they need to cross earlier than they will get their challenge up and operating,” Mr Davey stated.

A environmental monitoring station installed in a grassy field on the hillside site.
Rex Minerals put in environmental monitoring stations to assist put together the positioning.(Equipped: Rex Minerals)

“It feels like they’re attempting to speak up the challenge, however I feel they are a great distance off from getting financing.

“I am beginning to get used to the way in which this firm talks about their challenge and I’m turning into extra assured that historical past will repeat itself.

“Quite a few individuals have tried to get the Hillside mine going and I concern that this challenge will likely be no totally different.”

Preparations underway

Nevertheless, Mr Laufmann stated the corporate was getting ready the positioning to develop into prepared for operations, with highway diversions, energy upgrades and water installations.

Two men speaking to each other on a farm.
Rex Minerals EGM Jason Schell with CEO Richard Laufmann on the Hillside core farm.(Equipped: Rex Minerals)

“The location is prepped and able to go for after we begin growing,” he stated.

“On the similar time, we’re coaching the people who find themselves going to function this mine.

“This mine simply would not carry jobs, it brings range [of industry] as an alternative of simply farmers within the Yorke Peninsula.

“This may usher in individuals that can help hospitals, colleges, sporting golf equipment and all the kinds of issues that make a area thrilling.”

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