The Queensland Government has declared the proposed North West Queensland pit-to-production venture PhosOne a ‘prescribed project’ to streamline its approvals.
PhosOne is a joint venture between Australian company North West Phosphate (NWP) and multinational mining and metals processing group Sibanye-Stillwater and seeks to grow local production of phosphate rock concentrate for use in agriculture as fertiliser.
The ‘prescribed project’ declaration means a streamlined approval process for the integrated project, which is expected to generate $1.4 billion in economic value and create 240 ongoing and 490 construction jobs in the North West.
The mine development is being expedited, following funding of $5.77 million from the Mount Isa Mining Acceleration Program.
PhosOne proposes mining phosphate ore from NWP’s new $150 million Paradise South mine, located 130km northwest of Mount Isa, before being transported to Century mine for processing.
Additional processing of the concentrate will then occur at the Port of Karumba, before the phosphate rock concentrate is shipped to trade partners.
North West Phosphate Managing Director John Cotter says the prescribed project status is a strong signal of support from the Queensland Government and provides momentum as the project progresses through the joint venture study phase.
“This declaration supports the project’s continued development and planning, and recognises the long-term strategic value a project like PhosOne could offer in terms of securing phosphate supply, supporting regional employment, and contributing to domestic fertiliser production,” says Cotter.
“PhosOne has the potential to deliver a stable, long-term economic boost for the North West Minerals Province.”
Assistant Minister for Primary Industry Development, Water and Western Queensland Sean Dillion says the declaration is another example of how the Crisafulli Government is delivering more economic development opportunities in regional Queensland.
“Our resources and agricultural industries are a powerhouse for Queensland’s economy and this project has the potential to deliver for both – more domestically manufactured fertiliser and more mining development,” Dillion says.
Queensland Coordinator-General Gerard Coggan adds that it is vital to create avenues of support for different sectors through critical mineral expansion and production.
Phosphate is a key ingredient for Australia’s multi-billion dollar agriculture industry and technologies needed for a decarbonised future. The mineral is commonly used in fertilisers and can also be turned into phosphoric acid, which is used in food, cosmetics, animal feeds, and electronics.
Write to Adam Orlando at Mining.com.au
Images: North West Phosphate
