Recent developments on resource projects in North-West Queensland have been welcomed by Northern Stevedoring Services.
PRL Group (ASX:PRG) has exported its first phosphate rock out of Townsville after taking ownership of the Admore mine in September.
NSS was contracted to manage the loading for export from the Glencore managed Berth 8. Twenty-five thousand tonnes of phosphate rock left the port for New Zealand early this month.
Eva on the horizon
NSS General Manager Mark George also hailed recent news of the investment commitment by Harmony to its Eva Project.
Main image: Drilling at the Harmony Eva Project
NSS will handle the discharge of project cargo for Harmony during construction of the project about 75km north-east of Cloncurry.
The announcement backed the board’s recent decisions to invest in machinery and infrastructure at the Port of Townsville, NSS General Manager Mark George said.
“What helps is the corporate and business experience on our board which helps properly inform our decisions,” he said.
“As for the North West, it is a region that keeps on giving and with this announcement will continue to do so over coming years.
“We are confident there’ll be more announcements on significant ore bodies over coming years.”
Harmony announced the board’s approval of the final investment decision with the completion of its updated feasibility study.
Harmony said production was forecast to begin in the second half of 2028, aligning with an anticipated copper supply gap, which would support higher prices.
About 1000 jobs are expected to be created during Eva’s construction, and about 450 full-time roles sustained during steady-state operations.
The proposed open-pit development is expected to produce about 65,000 tonnes of copper in concentrate per year during the first five years.
It boasts an expected life-of-mine average production profile of about 60,000 tonnes of copper and 19,000 ounces of gold per annum, positioning Eva as one of Australia’s most significant new copper developments.
Harmony said this would be achieved by processing 18 million tonnes per annum of ore on average over an estimated mine life of 15 years at a very attractive margin. The Eva operation is expected to have an all-in sustaining cost (AISC) of about $US2.50/lb.
Project capital is estimated at $2.3 billion to $2.6 billion, with expenditure phased over a three-year construction period.
The Queensland Government declared Eva Copper a prescribed project in March 2024 to expedite approvals.
It made a conditional grant of $20.7 million in July 2024 to support preliminary site works, which are now largely complete.