https://www.miningweekly.com

Rutila export facility gets a nod

Rutila export facility gets a nod

Photo by Bloomberg

17th January 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – The share price of Pilbara-focused Rutila Resources spiked nearly 10% on Friday on news that the company’s joint venture (JV) with Todd Minerals had been granted tenure for an export facility at the Balla Balla port.

The Department of Mines and Petroleum granted the JV a licence over the land from the existing mining tenements of the Balla Balla magnetite project to the Balla Balla port area, on the Pilbara coast line.

The licence would contain the export facility, which consists of a stockyard area, the causeway and the jetty to the transshipment shuttle vessel loading facility.

Rutila said on Friday that the export facility would have the capability of exporting a minimum of six-million tonnes a year of product; however, using the same causeway and jetty infrastructure, the capacity could be increased to over 50-million tonnes a year, to allow for third-party access.

The company was now waiting for the Department of Transport to approve a Sea Bed Lease and a conditional jetty licence. The jetty licence would only be granted on the submission of appropriate final engineering construction drawings for the jetty.

Rutila’s Balla Balla magnetite/vanadium/titanium project, which would be serviced by the export facility, currently has a Joint Ore Reserves Committee-compliant resource of 456-million tonnes, at 45% iron, 0.64% vanadium and 13.7% titanium.

The company’s shares were trading at a high of A$0.22 a share on Friday.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Virtual Gas Network (Pty) Ltd
Virtual Gas Network (Pty) Ltd

Virtual Gas Network supplies compressed natural gas via a virtual gas distribution network.

VISIT SHOWROOM 
MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.041 0.777s - 110pq - 2rq
Subscribe Now