- Created on 06 November 2012
ANOTHER box has been ticked in Rex Minerals’ quest to establish an operating mine on Yorke Peninsula with the long-awaited release of its prefeasibility study last week.
The study was originally expected to be started in July 2011 and completed within six months. The study has put a price tag on the cost of starting a working copper mine near Ardrossan — $900million.
A lot of money, but Rex stands to make $11billion in revenue over the mine’s initial 15-year lifespan.
Rex appears to have great confidence in the project and has now said the mine could live even longer than 15 years.
Cash is now king for Rex’s Hillside project. The company needs to raise money so it can tick another box with the bankable feasibility study next year. It also needs to get a lot of approvals.
However, the state government will probably look favourably upon the project as it has to potential to fill the void created by BHP Billiton walking away from its $30billion Olympic Dam expansion.
Hell of a race
The riders competing in the Bowden Elite Teams Series probably didn’t know exactly what they were in for when they agreed to compete in the Hell of the North stages in the country.
The Copper Coast sure produced some hellish conditions, with hot and windy weather, dirt roads to traverse and grain trucks sharing the roads.
Unfortunately, the event wasn’t very well supported by spectators.
There was a lot of hype in the lead-up to the Hell of the North when it was originally scheduled for May 12 and 13, but the pin was pulled at the last minute.
The rescheduled dates weren’t widely advertised and the second day clashed with Amy’s Ride in Adelaide which several local cycling enthusiasts attended.
If the event returns, it would be good to incorporate an amateur race for locals in the morning, even a kids’ event in Victoria Square with a best decorated bike competition or something of the like.
The event has the potential to be a lot better next time.
Amie Brokenshire, Editor