Port Augusta in South Australia is expected to restart commercial shipping for first time in half a century as the new owner of the former Northern Power Station has plans to transform the site into a port facility.
Specifically, CU-River Mining, an Australian iron ore magnetite producer, has taken over the Northern Power Station site, as it closed on May 2016, from Flinders Power.
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The new company will invest $250m to turn the site into a bulk commodity, transhipment port facility capable of handling iron ore, grain and other commodities.
As CU-River stated, barges at the port, will be loaded and then voyage to Spencer Gulf’s deeper water to unload onto larger capesize vessels.
The construction of the area will begin when the feasibility and approvals are complete.
Moreover, the port is expected to begin its operations within two years.
CU-River will be exploring more options to ensure the site’s commercial potential is maximised.
According to the company’s statement
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. Importantly the intention is to develop the port as a multi-user facility, providing Spencer Gulf and far-north industry with further export opportunities.
