Sino Iron project
The massive Sino Iron project has been 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 in Australia 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 Limited. Production of magnetite concentrate started in late 2012 and processing lines 1 and 2 will be fully operational by December 2013
Project Quick Facts
At peak construction 4,000 people were employed building the project. In full operation there will be between 800 - 1000 permanent positions.
The Sino Iron Ore project is an important project for both Australia and China. When fully 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.
The Sino Iron project will generate around $75 billion in direct revenue to the Australia economy, and $3.3 billion in royalties for Western Australia.