IT IS “unlikely” Iluka Resources’ proposed mineral sands mine at Balranald will
be operational in 2015 as previously expected, company officials have confirmed.
News of the expected delay followed the release of the company’s 2012
results last week, which showed a 30 per cent reduction in the company’s mineral
sands revenue, from $1.54 billion in 2011 to $1.07 billion.
Iluka’s overall
profit also declined from $541.8 million to $363.2 million.
During a
presentation to councillors on Tuesday night Balranald project manager Tom
Blackwell said market conditions were proving difficult for the resource sector,
confirming production had been scaled back at two Iluka sites due to market
volatility.
But despite the company’s financial position, Mr Blackwell
remained upbeat about the site’s future.
“Work will continue on the
Balranald project in 2013 and beyond, of that I can assure you,” he said.
“We haven’t found a fatal flaw as yet, and that includes our financial
analysis.”
Studies to determine the proposed mine’s environmental impact have
examined issues such as air, noise, ecology and the preservation of the area’s
Aboriginal heritage, while research on potential impact to the water table is
still underway, Mr Blackwell told councillors.
The project’s health, safety,
environment and community project manager Andrew Minns told The Guardian work
was currently underway to determine the extent of any impact the mine may have
on water resources in the area.
He said groundwater monitoring was occuring
and research was being conducted on the question of aquifer re-injection.
For more of this story, see Wednesday’s (February 27) Guardian.
