Strandline Resources Limited Coburn Heavy Mineral Sands Project

Loan towards to the construction and development of the Coburn Heavy Mineral Sands Project (Investment Decision: June 2020)

Strandline Resources Limited Coburn Heavy Mineral Sands Project

Project:          Coburn Heavy Mineral Sands Project

Location:        Gascoyne region of WA.

Sector:            Resources

NAIF loan Total project value
Up to $150m $320m

 

Economic impact to region Jobs
$922m Up to 315 jobs during construction and up to 190 jobs during operations.

 

About the Project

The Coburn Heavy Mineral Sands Project is located 240km north of Geraldton in the Gascoyne region of WA. The Project will comprise mining operations, beneficiation, minerals separation processing and associated infrastructure to produce 23.4Mtpa of mineral sand products. The initial life of the mine is 22.5 years.

The Coburn Project is expected to be one of the world’s largest and most capital efficient mineral sands projects, with a strong zircon-titanium product suite. Products from the development will be used globally in items including ceramic tiles, refractory, paint, titanium metal and welding rod applications.

Indigenous Engagement

  • Ongoing engagement with Nanda and Malgna Traditional Owners through a Community Consultation Group, appointment of an Indigenous Liaison Officer, development of a Cross Cultural Awareness Education program.
  • Preferential procurement process for Nanda and Malgana businesses and contractor reporting requirements across employment, training and procurement spend.
  • Delivering aspirational targets for Indigenous employment 3 – 5 % (construction phase) and 4% (year 1 – 3), 7% (year 4 – 7) and 9% (year 7 onwards) for operations site team with a preferential recruitment approach and support for training.
  • Annual internal review of IES with key stakeholders, industry and government bodies and regular reporting and promotion of Indigenous engagement outcomes and initiatives.

Strandline Managing Director Luke Graham said NAIF’s support is a pivotal point in Coburn’s development. “NAIF’s investment decision is a major endorsement of the project and positions the Company well to advance towards production. As well as providing a substantial share of the project funding, NAIF’s support will help ensure Coburn secures the rest of the necessary financing”

NAIF media release: https://naif.gov.au/media-releases/naif-loans-top-more-than-2-billion-following-approval-for-western-australia-critical-minerals-project/

Ministerial media release: https://www.minister.industry.gov.au/ministers/pitt/media-releases/wa-project-crucial-boost-critical-minerals-sector

Link to project webpage: http://www.strandline.com.au/irm/content/coburn-heavy-mineral-sands-project-100.aspx?RID=306

Note: Financial assistance to the project is subject to a number of conditions including the finalisation of the Western Australian Government’s consideration and agreement for the approved funds to be advanced.

Economic Impact and Public Benefit

The project is expected to generate up to $922 million in economic impact to the region over 25 years and generate up to 315 jobs during construction and up to 190 jobs during operations.  The project expects to recruit the majority of its workforce from the surrounding regional area by facilitating a drive-in-drive-out workforce.  In addition, they will offer training opportunities and engage local consultants and contractors all of which will benefit the Gascoyne and Mid-West regions.