KORELLA NORTH MINE PERMITTING TAKES PENULTIMATE STEP FORWARD WITH RAIL CORRIDOR AGREEMENT
Chatham Rock Phosphate Ltd.’s Korella North mine ML100379 permitting process has taken the penultimate move forward with its signing of a rail corridor agreement with the Minister for Transport and Queensland Rail.
The rail corridor enables entrance/exit from the Korella North mine through an on-grade rail crossing of the Phosphate Hill/Townsville Railway and onto the Phosphate Hill/Duchess road.
On Friday, Sept. 6, 2024, Avenir Makatea Pty. Ltd. signed the mining compensation agreement — rail corridor — mining lease 100379. The other parties, which will sign in order to fully execute the agreement, are the Minister for Transport and Main Roads, the Minister for Digital Services and Queensland Rail Ltd.
The signing of the rail corridor agreement was the last of the conditions precedent for the grant of mining lease ML100379 for Korella North.
The granting of ML100379 includes the granting of access over the adjacent Phosphate Hill/Townsville rail line and connection to the Phosphate Hill/Duchess road.
ML100379 covers an area of 118.62 hectares and is located six kilometres southeast of the Monument at Phosphate Hill.
The grant of the mining lease is under the Queensland Mineral Resources Act 1989 and is for a term of 10 years, with the ability to apply for a further renewal for a term not exceeding 10 years.
The company awaits final signing by all parties of the rail corridor agreement to be followed by Department of Resources’ final processing of the grant application and then the grant of ML100379 by the Minister for Resources.
With the Queensland state election looming, the government will go into caretaker mode from Oct. 1, 2024.
The company will keep shareholders informed on progress.
