Sino Iron project
The massive Sino Iron project is being developed at Cape Preston, 100 kilometres south west of Karratha in Western Australia's Pilbara region. It is the largest magnetite mining and processing operation under construction in Australia. The Sino Iron project is focused on delivering a world class magnetite iron ore development which will add value to the Western Australian economy through significant downstream processing, employment, community benefits and international technology transfer while balancing social and environmental considerations.
The project is one of China's largest investments into the Australian resources sector and is owned by Hong Kong-based CITIC Pacific. Production and export of concentrate is expected in the latter half of 2012. CPM has rights to acquire an additional three billion tonnes of resources which would lift production to 70 million tonnes each year. At peak construction about 4,000 people will be employed building the project. When in operation there will be about 1000 permanent positions, in addition to the 250 roles at corporate level.
The Sino Iron Ore project is an important project for both Australia and China. Once completed, CITIC Pacific Mining will become the first Chinese-owned mining company to ship iron ore products from WA to China. Australia and China will enjoy mutual wide-ranging benefits from the Sino Iron project including long-term economic, social and community dividends for decades to come.