Does the Agreement mean Oakajee Port is now certain to be built?
While the execution of a State Development Agreement is an important step in moving further towards the development of a port at Oakajee, the decision in itself does not guarantee that the port will be built. The Infrastructure Provider, OPR, will need to complete Bankable Feasibility Studies to the satisfaction of its financial backers before the green light to proceed is given. Among other things this will require the miners and their backers to prove that they have sufficient ore reserves and projects capable of delivering the quantities of iron ore necessary to underwrite the cost of developing and operating port and related transport infrastructure. This means that construction of a port at Oakajee will only commence if there is a sound business case. The Bankable Feasibility study is expected to be completed in early 2010.
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