Cape Alumina's (ASX: CBX Pisolite Hills mine and port project on western Cape York, Queensland has been declared a "significant project for which an Environmental Impact Statement (EIS is required" by the Queensland Government.
The company says it is now "full steam ahead" at Pisolite Hills, with the declaration prompting Cape Alumina to restart work on technical and environmental studies for the project and re-open negotiations with the Traditional Land Owners and local Aboriginal people.
The Pisolite Hills resource is estimated to be 134.6 million tonnes of in-situ bauxite, which has the potential to yield up to 7 million tonnes per annum of dry-product bauxite over a 15-year period.
Cape Alumina's studies show that the project will boost economic activity by $1.2 billion, in net present value (NPV terms, and create or sustain more than 1,700 jobs over the mine's 15‐year life.
The boost to the Far North Queensland economy alone will be more than $600 million in NPV and 1,300 jobs.
Development of Pisolite Hills project was put on hold in October 2010 after the previous State Government imposed 500-metre-wide buffer zones, known as High Preservation Areas, around waterways in the vicinity of the project area as part of the declaration of the Wenlock River Basin as a wild river area.
As a result this reduced the available bauxite resources within the project.
Cape Alumina has previously referred the Pisolite Hills project to the Commonwealth Department of Sustainability, Environment, Water, Population and Communities under the requirements of the Environmental Protection and Biodiversity Conservation Act 1999 (EPBC Act.
The project was determined to be a "controlled action" assessable under an EIS process.
Cape Alumina has already completed some of the most comprehensive environmental studies ever undertaken in the region and he expects that the EIS will be completed by late next year.
Subject to the successful completion of all environmental studies and the granting of all necessary State and Commonwealth government permits, Cape Alumina expects to begin construction in early 2014 followed by production in late 2014.
Cape Alumina will also now reassess the development timeline of its second major project on Cape York, the Bauxite Hills mine and port project.
The Bauxite Hills project, which is located about 95 kilometres north of Weipa and just 5 kilometres southeast of the existing port at Skardon River, had been the company's principal focus since late 2010 when Pisolite Hills was put on hold.
Leading pure-play bauxite company
Cape Alumina controls around 1,900 square kilometres of mineral exploration tenements in western Cape York, a region world-renowned for its high quality, export-grade bauxite.
This is the largest tenement holding, outside the Rio Tinto Alcan mining leases, in the region.
Cape Alumina‘s proposed Pisolite Hills integrated mine and port project is located on an elevated, open, dry bauxite plateau about 50 kilometres northeast of Weipa and 40 kilometres southeast of the community of Mapoon.
Pisolite Hills hosts a high quality, export grade bauxite and has a high alumina content when compared to other Australian bauxite provinces.
Cape Alumina has 13 granted exploration permits four exploration permit applications and nine mining lease applications. The company also holds one granted exploration permit and two applications over its Central Queensland bauxite project.
The company has previously outlined a total exploration target of 300 to 400 million tonnes of in-situ bauxite.
Seven priority bauxite exploration areas have been identified across the 1,900 square kilometres of exploration tenements in the western Cape York bauxite province.
To date, the company has defined a JORC resource of 195 million tonnes of in-situ, high quality, export-grade bauxite.
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