Australia's mineral exploration company, Centrex Metals Limited announced on Mar 9 that it agreed with Wuhan Iron and Steel Company Ltd (WISCO) to establish the joint venture company to design, build and operate the proposed Port Spencer in South Australia. Port Spencer (former Sheephill) is located in the northeast of Port Lincoln, South Australia's Eyre Peninsula and being developed to export iron ore and grain thus providing effective access to international markets. |
The shareholding in Port Spencer Pty Ltd, the joint venture company, is owned 50:50 by Port Spencer Holdings Pty Ltd, a wholly owned subsidiary of Centrex and Wugan Australian Resources Investment Pty Ltd (WARI), a subsidiary of WISCO. The port will allow direct loading of Cape size ships (up to 200,000t) and the first task of the joint venture will be to prepare the bankable feasibility study for the port project. The decision to proceed with construction is planned to be made late this year or early next year.
In line with the construction of the port, a Public Environmental Report (PER) is now open to community members to review until Apr 27.