THE mining company behind a mineral sands mine near Balranald is putting the brakes on the project as it waits for iron ore prices to improve.
Clearing at the Atlas Campaspe mine site, about 90 kilometres north of Balranald, was slated to begin early next year but the start date has now been pushed back to 2018.
Cristal Mining resource development manager Ray Roberts briefed Balranald Shire Council this week, saying the mine’s future hinged on Cristal’s cashflow improving.
He told council the company is holding out for mineral sands prices to peak, as they did back in 2011.
“We are constantly reviewing the best time to bring (the mine) into production,” Mr Roberts said.
“(Peaks) are short. You need to be ready to get the most out of them.
“If prices suddenly came good we’d bring (the schedule) back as fast as we could.”
Mr Roberts assured councillors that despite the delay, the $200 million mine was a priority and that the company was working “flat out” on securing secondary approvals required for the mine.
“This project will still go ahead. That’s the resource that will support Cristal,” he said.
For more on this story pick up a copy of Monday’s Guardian (June 27, 2016).
