Coburn Project Product Logistics Services Contract Awarded

Source: www.gulfoilandgas.com 11/22/2021, Location: Not categorized

HIGHLIGHTS
• Product transport and storage services agreement executed with leading logistics provider Qube Bulk
• Strategic storage secured berth-side at the Port of Geraldton for most of Coburn’s product resulting in logistics flexibility and cost efficiencies
• Qube’s scope comprises a turn-key product logistics solution from mine-to-ship, including operating the haulage fleet, product storage facilities and coordinating port loading activities
• Agreement covers 100% of the mineral sands products to be produced at Coburn over an initial 10-year term (~225,000 tonnes per annum)
• Qube is a premier provider of bulk, port and logistics services across Australia, with significant experience in managing mineral sands bulk cargo around the Geraldton and Mid West region
• The terms of the agreement are in accordance with the production plan, logistics requirements and overall operating cost assumptions contained in the Coburn DFS, released in June 2020

“This agreement, when combined with the previously announced operational contracts, including for contract mining services and supplies of electricity, LNG, fuel and facilities management, means Strandline has already locked-in ~65% of its forecast operating costs in line with the assumptions contained in the Coburn DFS.”

Strandline MD Luke Graham Strandline Resources Limited is pleased to announce another important step in its preparations for production at the Coburn mineral sands project in Western Australia, executing a long-term haulage and logistics services agreement with Qube Bulk Pty Ltd (Qube). Qube is Australia’s largest integrated provider of export logistics services and is highly experienced in haulage, storage and ship loading of bulk mineral sands products, including at the Port of Geraldton. Qube’s scope comprises a turn-key logistics solution from mine-to-ship, including operating the haulage fleet, product storage facilities at Geraldton and coordinating ship loading activities. Qube’s services include:

• Load product at Coburn mine site into Qube-owned triple road trains on a continuous 24-7 basis
• Transport of ilmenite and zircon concentrate products to Qube’s existing Berth 4 storage facility at the Port of Geraldton ready for direct loading to ship
• Transport of zircon and rutile products to purpose-built storage facility at Narngulu, ready for campaign loading at Berth 4, Port of Geraldton
• Coordinate product deliveries for ship loading at the port to meet Strandline’s customer requirements

The terms of the contract are in accordance with the production plan, logistics requirements and overall operating cost assumptions contained in the Coburn DFS, released in June 2020.

Appointment of Qube follows the previously announced 10-year port access and services agreement with the Mid West Ports Authority, which operates the Port of Geraldton in WA (refer ASX announcement 16 Nov-2020).

Qube is now preparing its Narngulu storage facility and existing Berth 4 port storage facility and trucking fleet ready for first cargo later next year.

With the strong construction progress achieved to date at Coburn, Strandline remains on track to achieve first production of heavy mineral concentrate (HMC) in the December quarter, 2022.

Strandline Managing Director Luke Graham said the execution of this key product logistics contract marked another crucial step in the Company’s strategy to become a leading high-margin producer of critical minerals.

“We are delighted to establish this long-term relationship with Qube, a leading logistics provider across Australia and a well-established operator in the mid-west region of WA,” Mr Graham said.

“Securing the strategic storage at port berth-side for most of Coburn’s product volume is a significant advantage, resulting in extra flexibility and cost efficiencies.

“This agreement, when combined with the previously announced operational contracts, including for the contract mining services, supply of electricity, LNG, fuel and facilities management on site, means Strandline has already locked-in ~65% of its forecast operating costs in line with the assumptions contained in the Coburn DFS”

Qube Bulk Director Todd Emmert said “We are delighted about our new partnership with Strandline and being able to release further value to customers and the Port of Geraldton through our ongoing investment in the region. The Coburn project is an exciting prospect that will deliver long term benefits to all stakeholders involved”.


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