Ascot welcomes Port Hedland expansion plans
PERTH (miningweekly.com) – Diversified junior Ascot Resources has welcomed reports that the Port Hedland Port Authority (PHPA) was considering adding additional export capacity for iron-ore miners.
The PHPA was considering proposals for both inner- and outer-harbour developments at Finucane Island and Lumsden Point, which could lift the authority’s export capacity above 500-million tonnes a year, The West Australian reported.
The new facilities would likely be built and operated by specialist infrastructure companies.
“As a stakeholder, this is a positive development as it allows junior iron-ore companies such as Ascot the opportunity to access port capacity at Port Hedland,” Ascot chairperson Paul Kopejtka said on Friday.
Ascot recently signed a multimillion-dollar deal to acquire the Wonmunna iron-ore project, in the Pilbara, which has the potential to produce five-million tonnes a year of lump and fines products.
Under the terms of the agreement, Ascot would issue project owner Ochre Group Holdings with 88-million fully paid ordinary shares, along with an initial cash consideration of A$2-million. A further A$29.75-million would be payable within five years of the transaction completion date, with an interest rate of 5.88% payable on the additional consideration.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation

















