RE: Reminder of the recent company AT interview1 Jan 2025 12:48
"Arise will be tasked with financing and operating the shorefront, the breakwater, the jetty, the port, those port facilities as well as providing services to us: water, roads, power.
So they're an excellent partner.
Fantastic execution capabilities.
And this step for us is a major de-risking step as we engage our strategic partners.
That is a process that we have announced previously to the markets that we are engaging strategic partners to to develop the project, bring it into construction, finance it.
But this port side bottleneck was something that lingered over the project for a long time and had created a lot of uncertainty in the past.
That uncertainty is now removed.
As a reminder, this project would produce one of the largest quantities of iron ore in the market.
It will be one of the largest producers of iron ore, at 30 million tonnes per annum in its Phase 2 expansion.
It will also produce one of the highest quality products on the market 66% iron in stage one, 68.5% iron in stage two.
That is a very sweet product and a very desirable product, especially as the steel industry shifts toward demand for green steel and lower coal usage for higher quality iron ore products.
So we're very, very well positioned now to move forward on a number of execution milestones that we've lined up in the early part of next year.
Our shareholders have been very patient with us and we're very grateful for that.
But we now have a string of announcements planned for the early part of next year that we are going to be hitting milestones on and getting into the public domain for our shareholders."
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