$150 Million Loan, Hundreds of Jobs for Mineral Sands project
Discover how a $150 million loan is set to create hundreds of jobs in the Coburn Heavy Minerals Sands Project, located in Gascoyne, Western Australia.
A loan of up to $150 million will create hundreds of jobs in the Coburn Heavy Minerals Sands Project in the Gascoyne, Western Australia.
The Minister for Northern Australia, David Littleproud said the loan from The Northern Australia Infrastructure Facility will help create 300 direct jobs during construction and 150 on going jobs.
“The owners of the Coburn Project, Strandline Resources Limited is expected to build one of the most capital efficient and biggest mineral sands projects in the world,” Minister Littleproud said.
“Mineral Sands are used in ceramic tiles, pharmaceuticals, electronics, paint, plastics, titanium metal and the use of welding rods.
“Bulk earthworks are underway on site, jobs are being created, with first production scheduled for the December quarter of 2022.
“I congratulate the team at Strandline on reaching financial close with the NAIF, for a project that will bring economic benefit across the Gascoyne region.
“The $150 million in support from NAIF will help fund key mining infrastructure and unlock hundreds of millions of dollars in economic benefit in the region. I look forward to more jobs being created over the coming months.”
Federal Member for Durack, Melissa Price welcomes this vital new project in her electorate, 250 km north of Geraldton, providing an important employment boost in the Gascoyne region.
“As well as the ongoing employment at the new mine, this development will also support services at Geralton Port. I congratulate Strandline Resources and look forward to this project supplying vital resources to meet global demand for these mineral sands,” she said.
NAIF CEO Chris Wade said NAIF’s loan to Coburn demonstrates NAIFs commitment in supporting the development of critical mineral projects in Australia.
“The Coburn mineral sands project is one of a range of resources projects that NAIF has supported across northern Australia, ranging from iron ore, bauxite, amorphous silica, mineral sands and the potash sectors.
“Reaching financing close is an important milestone and we look forward to working with the company to bring this exciting project to fruition.”
NAIF has committed $3.2 billion in support to projects across northern Australia, with in excess of $1.1 billion of that in Western Australia, supporting more than 2,500 jobs.
