Strandline secures A$5m NAIF funding for Coburn airstrip
ASX-listed Strandline Resources is pushing ahead with efficiency improvements at its Coburn mineral sands project, supported by a $A5-million advance from the Northern Australian Infrastructure Facility (NAIF). The funding will be used for the construction of a new airstrip and associated infrastructure, located 17 km from the Coburn site in Western Australia.
The new airstrip is expected to reduce travel time for Strandline’s employees and contractors, many of whom currently face a three-hour drive to the site. By cutting down travel time, the company aims to improve operational efficiencies and enhance worker retention.
Commenting on the development, Strandline MD Jozsef Patarica said that the company was making good progress in implementing its strategy to improve the operational and financial results at Coburn. A key part of this plan involves driving greater efficiencies, which includes retaining staff.
The airstrip project will be funded in multiple draws, with the first amount of A$2.5-million to be released once customary conditions precedent are met. Patarica also acknowledged the continued support of Strandline’s lenders, particularly NAIF, and highlighted the importance of the funding in advancing the company’s objectives.
Coburn is a mineral sands development that will produce zircon and titanium, key minerals for industrial applications. The company remains focused on optimising operations at the site amid shifting global market conditions.
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