The Central Eyre Iron Project has been granted major project facilitation status by the federal government.
It's expected to be a big boost for the SA economy – eventually bringing in up to $3 billion a year – earned from exports to Asia.
Employment prospects are also positive – the project looks to eventually hire around 2000 people for the mine’s construction.
Managing director of Iron Road, Andrew Stocks, will be joining Prime Minister Tony Abbott on his trip to Asia to promote trade with Australia.
Mr Stocks told News Corp the facilitation status will allow the project to move swiftly forward, looking toward securing finance in Asia.
“It is very important for government to lead business, particularly in Asia,” Mr Stocks told News Corp. “We work in parallel here, but it doesn’t work that way in Asia.”
The mine will be able to produce over 20 million tonnes of ore per year for 25 to 30 years.
As part of the mine’s infrastructure, a deep water port, railway line, power and water lines will be built.
Mayor of Wudinna Tim Scholz resigned last year in order to work with Iron Road on the mining project.
He told News Corp the project will be beneficial for the Eyre Peninsula community.
“The company wants the workforce to be as residential as possible and this will present an opportunity for a residential workforce and a drive-in, drive-out workforce from across Eyre Peninsula.”
Mr Stocks says he knows there will be objections to the project, particularly on environmental grounds.
“People will be watching to make sure we’re guided properly. I have no problem talking to people who are concerned about aspects of the project,” he told News Corp.
