❓ Hon. Norman Moore asks about Hamersley Iron and Rio Tinto's obligations for downstream iron ore processing in WA. Minister Ken Travers confirms obligations exist for Mount Bruce Mining and Hamersley Iron-Yandi under their respective state agreement Acts.
AnsweredQoN 1325Legislative Council
QuestionView source ↗
HAMERSLEY IRON AND RIO TINTO LTD, DOWNSTREAM PROCESSING OF IRON ORE OBLIGATIONS
(1) Does Hamersley Iron or Rio Tinto Ltd have any obligations in their state agreement Acts to involve themselves in downstream processing of iron ore within Western Australia? (2) If so, what are these obligations? Hon KEN TRAVERS
(1) Does Hamersley Iron or Rio Tinto Ltd have any obligations in their state agreement Acts to involve themselves in downstream processing of iron ore within Western Australia? (2) If so, what are these obligations? Hon KEN TRAVERS
AnswerView source ↗
I thank the member for some notice of this question. (1)-(2) I am advised that under the umbrella of the Rio Tinto Ltd group, there are two companies with state agreement Acts that have obligations for downstream processing of iron ore within Western Australia. Mount Bruce Mining Pty Ltd has steel-making obligations as per clause 41A of the schedule of the Iron Ore (Mount Bruce) Agreement Act 1972, and Hamersley Iron-Yandi Pty Ltd has further processing obligations as per clause 23 of the schedule of the Iron Ore (Yandicoogina) Agreement Act 1996. The obligations for Mount Bruce are in clauses 41A and 41B of its agreement Act. Clause 41A states - (1) (a) The Company shall subject to sub-clause (5) of this clause and to clause 41B of this Agreement on or before the 31st day of December, 1991 submit to the Minister detailed proposals for the establishment within the said State of plant for the production of steel containing provision that such plant will by the 31st day of December, 1994 have the capacity to produce not less than five hundred thousand (500,000) tons of steel annually and will by the 31st day of December, 1999 have the capacity to produce not less than one million (1,000,000) tons of steel annually. Clause 41B states - (1) If the Company at any time considers that the establishment of plant for the production of steel or, as the case may be, the expansion of the productive capacity of such plant as required to be proposed or as required pursuant to any proposals finally approved or determined pursuant to clause 41A hereof (hereinafter called “the steel operation”) is for any technical, economic or other reason not feasible, whether in whole or in part, then the Company may submit to the Minister the reasons why it considers the steel operation is not feasible, together with supporting data and such other relevant information as the Minister may require. The dates specified in the Iron Ore (Mount Bruce) Agreement Act have been extended from time to time. Currently, they have been extended to 30 June 2002 for development proposals and to 31 December 2004 for first metal production. The obligations for Yandicoogina are in clause 23 of its agreement Act, which states - (1) During the continuance of this Agreement, the Company shall undertake ongoing investigations into the technical and economic feasibility of establishing within the said State plant for the production of metallised agglomerates and shall on or before the earlier of - (a) the date 7 years after the date on which iron ore from the mining lease (other than iron ore transported solely for testing purposes and in respect of which no purchase price or other consideration is payable or due) is first transported from the mining lease; and (b) the date on which the 100 millionth tonne of such iron ore from the mining lease is transported from the mining lease submit to the Minister detailed reports of such investigations to the date of the report and its program, budget and timetable for the preparation of the proposals referred to in subclause (2). Iron ore mining commenced at Yandicoogina in 1999.
(2) If so, what are these obligations? Hon KEN TRAVERS replied: I thank the member for some notice of this question. (1)-(2) I am advised that under the umbrella of the Rio Tinto Ltd group, there are two companies with state agreement Acts that have obligations for downstream processing of iron ore within Western Australia. Mount Bruce Mining Pty Ltd has steel-making obligations as per clause 41A of the schedule of the Iron Ore (Mount Bruce) Agreement Act 1972, and Hamersley Iron-Yandi Pty Ltd has further processing obligations as per clause 23 of the schedule of the Iron Ore (Yandicoogina) Agreement Act 1996. The obligations for Mount Bruce are in clauses 41A and 41B of its agreement Act. Clause 41A states - (1) (a) The Company shall subject to sub-clause (5) of this clause and to clause 41B of this Agreement on or before the 31st day of December, 1991 submit to the Minister detailed proposals for the establishment within the said State of plant for the production of steel containing provision that such plant will by the 31st day of December, 1994 have the capacity to produce not less than five hundred thousand (500,000) tons of steel annually and will by the 31st day of December, 1999 have the capacity to produce not less than one million (1,000,000) tons of steel annually. Clause 41B states - (1) If the Company at any time considers that the establishment of plant for the production of steel or, as the case may be, the expansion of the productive capacity of such plant as required to be proposed or as required pursuant to any proposals finally approved or determined pursuant to clause 41A hereof (hereinafter called “the steel operation”) is for any technical, economic or other reason not feasible, whether in whole or in part, then the Company may submit to the Minister the reasons why it considers the steel operation is not feasible, together with supporting data and such other relevant information as the Minister may require. The dates specified in the Iron Ore (Mount Bruce) Agreement Act have been extended from time to time. Currently, they have been extended to 30 June 2002 for development proposals and to 31 December 2004 for first metal production. The obligations for Yandicoogina are in clause 23 of its agreement Act, which states - (1) During the continuance of this Agreement, the Company shall undertake ongoing investigations into the technical and economic feasibility of establishing within the said State plant for the production of metallised agglomerates and shall on or before the earlier of - (a) the date 7 years after the date on which iron ore from the mining lease (other than iron ore transported solely for testing purposes and in respect of which no purchase price or other consideration is payable or due) is first transported from the mining lease; and (b) the date on which the 100 millionth tonne of such iron ore from the mining lease is transported from the mining lease submit to the Minister detailed reports of such investigations to the date of the report and its program, budget and timetable for the preparation of the proposals referred to in subclause (2). Iron ore mining commenced at Yandicoogina in 1999.
Hon KEN TRAVERS replied: I thank the member for some notice of this question. (1)-(2) I am advised that under the umbrella of the Rio Tinto Ltd group, there are two companies with state agreement Acts that have obligations for downstream processing of iron ore within Western Australia. Mount Bruce Mining Pty Ltd has steel-making obligations as per clause 41A of the schedule of the Iron Ore (Mount Bruce) Agreement Act 1972, and Hamersley Iron-Yandi Pty Ltd has further processing obligations as per clause 23 of the schedule of the Iron Ore (Yandicoogina) Agreement Act 1996. The obligations for Mount Bruce are in clauses 41A and 41B of its agreement Act. Clause 41A states - (1) (a) The Company shall subject to sub-clause (5) of this clause and to clause 41B of this Agreement on or before the 31st day of December, 1991 submit to the Minister detailed proposals for the establishment within the said State of plant for the production of steel containing provision that such plant will by the 31st day of December, 1994 have the capacity to produce not less than five hundred thousand (500,000) tons of steel annually and will by the 31st day of December, 1999 have the capacity to produce not less than one million (1,000,000) tons of steel annually. Clause 41B states - (1) If the Company at any time considers that the establishment of plant for the production of steel or, as the case may be, the expansion of the productive capacity of such plant as required to be proposed or as required pursuant to any proposals finally approved or determined pursuant to clause 41A hereof (hereinafter called “the steel operation”) is for any technical, economic or other reason not feasible, whether in whole or in part, then the Company may submit to the Minister the reasons why it considers the steel operation is not feasible, together with supporting data and such other relevant information as the Minister may require. The dates specified in the Iron Ore (Mount Bruce) Agreement Act have been extended from time to time. Currently, they have been extended to 30 June 2002 for development proposals and to 31 December 2004 for first metal production. The obligations for Yandicoogina are in clause 23 of its agreement Act, which states - (1) During the continuance of this Agreement, the Company shall undertake ongoing investigations into the technical and economic feasibility of establishing within the said State plant for the production of metallised agglomerates and shall on or before the earlier of - (a) the date 7 years after the date on which iron ore from the mining lease (other than iron ore transported solely for testing purposes and in respect of which no purchase price or other consideration is payable or due) is first transported from the mining lease; and (b) the date on which the 100 millionth tonne of such iron ore from the mining lease is transported from the mining lease submit to the Minister detailed reports of such investigations to the date of the report and its program, budget and timetable for the preparation of the proposals referred to in subclause (2). Iron ore mining commenced at Yandicoogina in 1999.
I thank the member for some notice of this question. (1)-(2) I am advised that under the umbrella of the Rio Tinto Ltd group, there are two companies with state agreement Acts that have obligations for downstream processing of iron ore within Western Australia. Mount Bruce Mining Pty Ltd has steel-making obligations as per clause 41A of the schedule of the Iron Ore (Mount Bruce) Agreement Act 1972, and Hamersley Iron-Yandi Pty Ltd has further processing obligations as per clause 23 of the schedule of the Iron Ore (Yandicoogina) Agreement Act 1996. The obligations for Mount Bruce are in clauses 41A and 41B of its agreement Act. Clause 41A states - (1) (a) The Company shall subject to sub-clause (5) of this clause and to clause 41B of this Agreement on or before the 31st day of December, 1991 submit to the Minister detailed proposals for the establishment within the said State of plant for the production of steel containing provision that such plant will by the 31st day of December, 1994 have the capacity to produce not less than five hundred thousand (500,000) tons of steel annually and will by the 31st day of December, 1999 have the capacity to produce not less than one million (1,000,000) tons of steel annually. Clause 41B states - (1) If the Company at any time considers that the establishment of plant for the production of steel or, as the case may be, the expansion of the productive capacity of such plant as required to be proposed or as required pursuant to any proposals finally approved or determined pursuant to clause 41A hereof (hereinafter called “the steel operation”) is for any technical, economic or other reason not feasible, whether in whole or in part, then the Company may submit to the Minister the reasons why it considers the steel operation is not feasible, together with supporting data and such other relevant information as the Minister may require. The dates specified in the Iron Ore (Mount Bruce) Agreement Act have been extended from time to time. Currently, they have been extended to 30 June 2002 for development proposals and to 31 December 2004 for first metal production. The obligations for Yandicoogina are in clause 23 of its agreement Act, which states - (1) During the continuance of this Agreement, the Company shall undertake ongoing investigations into the technical and economic feasibility of establishing within the said State plant for the production of metallised agglomerates and shall on or before the earlier of - (a) the date 7 years after the date on which iron ore from the mining lease (other than iron ore transported solely for testing purposes and in respect of which no purchase price or other consideration is payable or due) is first transported from the mining lease; and (b) the date on which the 100 millionth tonne of such iron ore from the mining lease is transported from the mining lease submit to the Minister detailed reports of such investigations to the date of the report and its program, budget and timetable for the preparation of the proposals referred to in subclause (2). Iron ore mining commenced at Yandicoogina in 1999.
(1)-(2) I am advised that under the umbrella of the Rio Tinto Ltd group, there are two companies with state agreement Acts that have obligations for downstream processing of iron ore within Western Australia. Mount Bruce Mining Pty Ltd has steel-making obligations as per clause 41A of the schedule of the Iron Ore (Mount Bruce) Agreement Act 1972, and Hamersley Iron-Yandi Pty Ltd has further processing obligations as per clause 23 of the schedule of the Iron Ore (Yandicoogina) Agreement Act 1996. The obligations for Mount Bruce are in clauses 41A and 41B of its agreement Act. Clause 41A states - (1) (a) The Company shall subject to sub-clause (5) of this clause and to clause 41B of this Agreement on or before the 31st day of December, 1991 submit to the Minister detailed proposals for the establishment within the said State of plant for the production of steel containing provision that such plant will by the 31st day of December, 1994 have the capacity to produce not less than five hundred thousand (500,000) tons of steel annually and will by the 31st day of December, 1999 have the capacity to produce not less than one million (1,000,000) tons of steel annually. Clause 41B states - (1) If the Company at any time considers that the establishment of plant for the production of steel or, as the case may be, the expansion of the productive capacity of such plant as required to be proposed or as required pursuant to any proposals finally approved or determined pursuant to clause 41A hereof (hereinafter called “the steel operation”) is for any technical, economic or other reason not feasible, whether in whole or in part, then the Company may submit to the Minister the reasons why it considers the steel operation is not feasible, together with supporting data and such other relevant information as the Minister may require. The dates specified in the Iron Ore (Mount Bruce) Agreement Act have been extended from time to time. Currently, they have been extended to 30 June 2002 for development proposals and to 31 December 2004 for first metal production. The obligations for Yandicoogina are in clause 23 of its agreement Act, which states - (1) During the continuance of this Agreement, the Company shall undertake ongoing investigations into the technical and economic feasibility of establishing within the said State plant for the production of metallised agglomerates and shall on or before the earlier of - (a) the date 7 years after the date on which iron ore from the mining lease (other than iron ore transported solely for testing purposes and in respect of which no purchase price or other consideration is payable or due) is first transported from the mining lease; and (b) the date on which the 100 millionth tonne of such iron ore from the mining lease is transported from the mining lease submit to the Minister detailed reports of such investigations to the date of the report and its program, budget and timetable for the preparation of the proposals referred to in subclause (2). Iron ore mining commenced at Yandicoogina in 1999.
(1) (a) The Company shall subject to sub-clause (5) of this clause and to clause 41B of this Agreement on or before the 31st day of December, 1991 submit to the Minister detailed proposals for the establishment within the said State of plant for the production of steel containing provision that such plant will by the 31st day of December, 1994 have the capacity to produce not less than five hundred thousand (500,000) tons of steel annually and will by the 31st day of December, 1999 have the capacity to produce not less than one million (1,000,000) tons of steel annually. Clause 41B states - (1) If the Company at any time considers that the establishment of plant for the production of steel or, as the case may be, the expansion of the productive capacity of such plant as required to be proposed or as required pursuant to any proposals finally approved or determined pursuant to clause 41A hereof (hereinafter called “the steel operation”) is for any technical, economic or other reason not feasible, whether in whole or in part, then the Company may submit to the Minister the reasons why it considers the steel operation is not feasible, together with supporting data and such other relevant information as the Minister may require. The dates specified in the Iron Ore (Mount Bruce) Agreement Act have been extended from time to time. Currently, they have been extended to 30 June 2002 for development proposals and to 31 December 2004 for first metal production. The obligations for Yandicoogina are in clause 23 of its agreement Act, which states - (1) During the continuance of this Agreement, the Company shall undertake ongoing investigations into the technical and economic feasibility of establishing within the said State plant for the production of metallised agglomerates and shall on or before the earlier of - (a) the date 7 years after the date on which iron ore from the mining lease (other than iron ore transported solely for testing purposes and in respect of which no purchase price or other consideration is payable or due) is first transported from the mining lease; and (b) the date on which the 100 millionth tonne of such iron ore from the mining lease is transported from the mining lease submit to the Minister detailed reports of such investigations to the date of the report and its program, budget and timetable for the preparation of the proposals referred to in subclause (2). Iron ore mining commenced at Yandicoogina in 1999.
Clause 41B states - (1) If the Company at any time considers that the establishment of plant for the production of steel or, as the case may be, the expansion of the productive capacity of such plant as required to be proposed or as required pursuant to any proposals finally approved or determined pursuant to clause 41A hereof (hereinafter called “the steel operation”) is for any technical, economic or other reason not feasible, whether in whole or in part, then the Company may submit to the Minister the reasons why it considers the steel operation is not feasible, together with supporting data and such other relevant information as the Minister may require. The dates specified in the Iron Ore (Mount Bruce) Agreement Act have been extended from time to time. Currently, they have been extended to 30 June 2002 for development proposals and to 31 December 2004 for first metal production. The obligations for Yandicoogina are in clause 23 of its agreement Act, which states - (1) During the continuance of this Agreement, the Company shall undertake ongoing investigations into the technical and economic feasibility of establishing within the said State plant for the production of metallised agglomerates and shall on or before the earlier of - (a) the date 7 years after the date on which iron ore from the mining lease (other than iron ore transported solely for testing purposes and in respect of which no purchase price or other consideration is payable or due) is first transported from the mining lease; and (b) the date on which the 100 millionth tonne of such iron ore from the mining lease is transported from the mining lease submit to the Minister detailed reports of such investigations to the date of the report and its program, budget and timetable for the preparation of the proposals referred to in subclause (2). Iron ore mining commenced at Yandicoogina in 1999.
The obligations for Yandicoogina are in clause 23 of its agreement Act, which states - (1) During the continuance of this Agreement, the Company shall undertake ongoing investigations into the technical and economic feasibility of establishing within the said State plant for the production of metallised agglomerates and shall on or before the earlier of - (a) the date 7 years after the date on which iron ore from the mining lease (other than iron ore transported solely for testing purposes and in respect of which no purchase price or other consideration is payable or due) is first transported from the mining lease; and (b) the date on which the 100 millionth tonne of such iron ore from the mining lease is transported from the mining lease submit to the Minister detailed reports of such investigations to the date of the report and its program, budget and timetable for the preparation of the proposals referred to in subclause (2). Iron ore mining commenced at Yandicoogina in 1999.
(b) the date on which the 100 millionth tonne of such iron ore from the mining lease is transported from the mining lease submit to the Minister detailed reports of such investigations to the date of the report and its program, budget and timetable for the preparation of the proposals referred to in subclause (2).
(2) If so, what are these obligations? Hon KEN TRAVERS replied: I thank the member for some notice of this question. (1)-(2) I am advised that under the umbrella of the Rio Tinto Ltd group, there are two companies with state agreement Acts that have obligations for downstream processing of iron ore within Western Australia. Mount Bruce Mining Pty Ltd has steel-making obligations as per clause 41A of the schedule of the Iron Ore (Mount Bruce) Agreement Act 1972, and Hamersley Iron-Yandi Pty Ltd has further processing obligations as per clause 23 of the schedule of the Iron Ore (Yandicoogina) Agreement Act 1996. The obligations for Mount Bruce are in clauses 41A and 41B of its agreement Act. Clause 41A states - (1) (a) The Company shall subject to sub-clause (5) of this clause and to clause 41B of this Agreement on or before the 31st day of December, 1991 submit to the Minister detailed proposals for the establishment within the said State of plant for the production of steel containing provision that such plant will by the 31st day of December, 1994 have the capacity to produce not less than five hundred thousand (500,000) tons of steel annually and will by the 31st day of December, 1999 have the capacity to produce not less than one million (1,000,000) tons of steel annually. Clause 41B states - (1) If the Company at any time considers that the establishment of plant for the production of steel or, as the case may be, the expansion of the productive capacity of such plant as required to be proposed or as required pursuant to any proposals finally approved or determined pursuant to clause 41A hereof (hereinafter called “the steel operation”) is for any technical, economic or other reason not feasible, whether in whole or in part, then the Company may submit to the Minister the reasons why it considers the steel operation is not feasible, together with supporting data and such other relevant information as the Minister may require. The dates specified in the Iron Ore (Mount Bruce) Agreement Act have been extended from time to time. Currently, they have been extended to 30 June 2002 for development proposals and to 31 December 2004 for first metal production. The obligations for Yandicoogina are in clause 23 of its agreement Act, which states - (1) During the continuance of this Agreement, the Company shall undertake ongoing investigations into the technical and economic feasibility of establishing within the said State plant for the production of metallised agglomerates and shall on or before the earlier of - (a) the date 7 years after the date on which iron ore from the mining lease (other than iron ore transported solely for testing purposes and in respect of which no purchase price or other consideration is payable or due) is first transported from the mining lease; and (b) the date on which the 100 millionth tonne of such iron ore from the mining lease is transported from the mining lease submit to the Minister detailed reports of such investigations to the date of the report and its program, budget and timetable for the preparation of the proposals referred to in subclause (2). Iron ore mining commenced at Yandicoogina in 1999.
Hon KEN TRAVERS replied: I thank the member for some notice of this question. (1)-(2) I am advised that under the umbrella of the Rio Tinto Ltd group, there are two companies with state agreement Acts that have obligations for downstream processing of iron ore within Western Australia. Mount Bruce Mining Pty Ltd has steel-making obligations as per clause 41A of the schedule of the Iron Ore (Mount Bruce) Agreement Act 1972, and Hamersley Iron-Yandi Pty Ltd has further processing obligations as per clause 23 of the schedule of the Iron Ore (Yandicoogina) Agreement Act 1996. The obligations for Mount Bruce are in clauses 41A and 41B of its agreement Act. Clause 41A states - (1) (a) The Company shall subject to sub-clause (5) of this clause and to clause 41B of this Agreement on or before the 31st day of December, 1991 submit to the Minister detailed proposals for the establishment within the said State of plant for the production of steel containing provision that such plant will by the 31st day of December, 1994 have the capacity to produce not less than five hundred thousand (500,000) tons of steel annually and will by the 31st day of December, 1999 have the capacity to produce not less than one million (1,000,000) tons of steel annually. Clause 41B states - (1) If the Company at any time considers that the establishment of plant for the production of steel or, as the case may be, the expansion of the productive capacity of such plant as required to be proposed or as required pursuant to any proposals finally approved or determined pursuant to clause 41A hereof (hereinafter called “the steel operation”) is for any technical, economic or other reason not feasible, whether in whole or in part, then the Company may submit to the Minister the reasons why it considers the steel operation is not feasible, together with supporting data and such other relevant information as the Minister may require. The dates specified in the Iron Ore (Mount Bruce) Agreement Act have been extended from time to time. Currently, they have been extended to 30 June 2002 for development proposals and to 31 December 2004 for first metal production. The obligations for Yandicoogina are in clause 23 of its agreement Act, which states - (1) During the continuance of this Agreement, the Company shall undertake ongoing investigations into the technical and economic feasibility of establishing within the said State plant for the production of metallised agglomerates and shall on or before the earlier of - (a) the date 7 years after the date on which iron ore from the mining lease (other than iron ore transported solely for testing purposes and in respect of which no purchase price or other consideration is payable or due) is first transported from the mining lease; and (b) the date on which the 100 millionth tonne of such iron ore from the mining lease is transported from the mining lease submit to the Minister detailed reports of such investigations to the date of the report and its program, budget and timetable for the preparation of the proposals referred to in subclause (2). Iron ore mining commenced at Yandicoogina in 1999.
I thank the member for some notice of this question. (1)-(2) I am advised that under the umbrella of the Rio Tinto Ltd group, there are two companies with state agreement Acts that have obligations for downstream processing of iron ore within Western Australia. Mount Bruce Mining Pty Ltd has steel-making obligations as per clause 41A of the schedule of the Iron Ore (Mount Bruce) Agreement Act 1972, and Hamersley Iron-Yandi Pty Ltd has further processing obligations as per clause 23 of the schedule of the Iron Ore (Yandicoogina) Agreement Act 1996. The obligations for Mount Bruce are in clauses 41A and 41B of its agreement Act. Clause 41A states - (1) (a) The Company shall subject to sub-clause (5) of this clause and to clause 41B of this Agreement on or before the 31st day of December, 1991 submit to the Minister detailed proposals for the establishment within the said State of plant for the production of steel containing provision that such plant will by the 31st day of December, 1994 have the capacity to produce not less than five hundred thousand (500,000) tons of steel annually and will by the 31st day of December, 1999 have the capacity to produce not less than one million (1,000,000) tons of steel annually. Clause 41B states - (1) If the Company at any time considers that the establishment of plant for the production of steel or, as the case may be, the expansion of the productive capacity of such plant as required to be proposed or as required pursuant to any proposals finally approved or determined pursuant to clause 41A hereof (hereinafter called “the steel operation”) is for any technical, economic or other reason not feasible, whether in whole or in part, then the Company may submit to the Minister the reasons why it considers the steel operation is not feasible, together with supporting data and such other relevant information as the Minister may require. The dates specified in the Iron Ore (Mount Bruce) Agreement Act have been extended from time to time. Currently, they have been extended to 30 June 2002 for development proposals and to 31 December 2004 for first metal production. The obligations for Yandicoogina are in clause 23 of its agreement Act, which states - (1) During the continuance of this Agreement, the Company shall undertake ongoing investigations into the technical and economic feasibility of establishing within the said State plant for the production of metallised agglomerates and shall on or before the earlier of - (a) the date 7 years after the date on which iron ore from the mining lease (other than iron ore transported solely for testing purposes and in respect of which no purchase price or other consideration is payable or due) is first transported from the mining lease; and (b) the date on which the 100 millionth tonne of such iron ore from the mining lease is transported from the mining lease submit to the Minister detailed reports of such investigations to the date of the report and its program, budget and timetable for the preparation of the proposals referred to in subclause (2). Iron ore mining commenced at Yandicoogina in 1999.
(1)-(2) I am advised that under the umbrella of the Rio Tinto Ltd group, there are two companies with state agreement Acts that have obligations for downstream processing of iron ore within Western Australia. Mount Bruce Mining Pty Ltd has steel-making obligations as per clause 41A of the schedule of the Iron Ore (Mount Bruce) Agreement Act 1972, and Hamersley Iron-Yandi Pty Ltd has further processing obligations as per clause 23 of the schedule of the Iron Ore (Yandicoogina) Agreement Act 1996. The obligations for Mount Bruce are in clauses 41A and 41B of its agreement Act. Clause 41A states - (1) (a) The Company shall subject to sub-clause (5) of this clause and to clause 41B of this Agreement on or before the 31st day of December, 1991 submit to the Minister detailed proposals for the establishment within the said State of plant for the production of steel containing provision that such plant will by the 31st day of December, 1994 have the capacity to produce not less than five hundred thousand (500,000) tons of steel annually and will by the 31st day of December, 1999 have the capacity to produce not less than one million (1,000,000) tons of steel annually. Clause 41B states - (1) If the Company at any time considers that the establishment of plant for the production of steel or, as the case may be, the expansion of the productive capacity of such plant as required to be proposed or as required pursuant to any proposals finally approved or determined pursuant to clause 41A hereof (hereinafter called “the steel operation”) is for any technical, economic or other reason not feasible, whether in whole or in part, then the Company may submit to the Minister the reasons why it considers the steel operation is not feasible, together with supporting data and such other relevant information as the Minister may require. The dates specified in the Iron Ore (Mount Bruce) Agreement Act have been extended from time to time. Currently, they have been extended to 30 June 2002 for development proposals and to 31 December 2004 for first metal production. The obligations for Yandicoogina are in clause 23 of its agreement Act, which states - (1) During the continuance of this Agreement, the Company shall undertake ongoing investigations into the technical and economic feasibility of establishing within the said State plant for the production of metallised agglomerates and shall on or before the earlier of - (a) the date 7 years after the date on which iron ore from the mining lease (other than iron ore transported solely for testing purposes and in respect of which no purchase price or other consideration is payable or due) is first transported from the mining lease; and (b) the date on which the 100 millionth tonne of such iron ore from the mining lease is transported from the mining lease submit to the Minister detailed reports of such investigations to the date of the report and its program, budget and timetable for the preparation of the proposals referred to in subclause (2). Iron ore mining commenced at Yandicoogina in 1999.
(1) (a) The Company shall subject to sub-clause (5) of this clause and to clause 41B of this Agreement on or before the 31st day of December, 1991 submit to the Minister detailed proposals for the establishment within the said State of plant for the production of steel containing provision that such plant will by the 31st day of December, 1994 have the capacity to produce not less than five hundred thousand (500,000) tons of steel annually and will by the 31st day of December, 1999 have the capacity to produce not less than one million (1,000,000) tons of steel annually. Clause 41B states - (1) If the Company at any time considers that the establishment of plant for the production of steel or, as the case may be, the expansion of the productive capacity of such plant as required to be proposed or as required pursuant to any proposals finally approved or determined pursuant to clause 41A hereof (hereinafter called “the steel operation”) is for any technical, economic or other reason not feasible, whether in whole or in part, then the Company may submit to the Minister the reasons why it considers the steel operation is not feasible, together with supporting data and such other relevant information as the Minister may require. The dates specified in the Iron Ore (Mount Bruce) Agreement Act have been extended from time to time. Currently, they have been extended to 30 June 2002 for development proposals and to 31 December 2004 for first metal production. The obligations for Yandicoogina are in clause 23 of its agreement Act, which states - (1) During the continuance of this Agreement, the Company shall undertake ongoing investigations into the technical and economic feasibility of establishing within the said State plant for the production of metallised agglomerates and shall on or before the earlier of - (a) the date 7 years after the date on which iron ore from the mining lease (other than iron ore transported solely for testing purposes and in respect of which no purchase price or other consideration is payable or due) is first transported from the mining lease; and (b) the date on which the 100 millionth tonne of such iron ore from the mining lease is transported from the mining lease submit to the Minister detailed reports of such investigations to the date of the report and its program, budget and timetable for the preparation of the proposals referred to in subclause (2). Iron ore mining commenced at Yandicoogina in 1999.
Clause 41B states - (1) If the Company at any time considers that the establishment of plant for the production of steel or, as the case may be, the expansion of the productive capacity of such plant as required to be proposed or as required pursuant to any proposals finally approved or determined pursuant to clause 41A hereof (hereinafter called “the steel operation”) is for any technical, economic or other reason not feasible, whether in whole or in part, then the Company may submit to the Minister the reasons why it considers the steel operation is not feasible, together with supporting data and such other relevant information as the Minister may require. The dates specified in the Iron Ore (Mount Bruce) Agreement Act have been extended from time to time. Currently, they have been extended to 30 June 2002 for development proposals and to 31 December 2004 for first metal production. The obligations for Yandicoogina are in clause 23 of its agreement Act, which states - (1) During the continuance of this Agreement, the Company shall undertake ongoing investigations into the technical and economic feasibility of establishing within the said State plant for the production of metallised agglomerates and shall on or before the earlier of - (a) the date 7 years after the date on which iron ore from the mining lease (other than iron ore transported solely for testing purposes and in respect of which no purchase price or other consideration is payable or due) is first transported from the mining lease; and (b) the date on which the 100 millionth tonne of such iron ore from the mining lease is transported from the mining lease submit to the Minister detailed reports of such investigations to the date of the report and its program, budget and timetable for the preparation of the proposals referred to in subclause (2). Iron ore mining commenced at Yandicoogina in 1999.
The obligations for Yandicoogina are in clause 23 of its agreement Act, which states - (1) During the continuance of this Agreement, the Company shall undertake ongoing investigations into the technical and economic feasibility of establishing within the said State plant for the production of metallised agglomerates and shall on or before the earlier of - (a) the date 7 years after the date on which iron ore from the mining lease (other than iron ore transported solely for testing purposes and in respect of which no purchase price or other consideration is payable or due) is first transported from the mining lease; and (b) the date on which the 100 millionth tonne of such iron ore from the mining lease is transported from the mining lease submit to the Minister detailed reports of such investigations to the date of the report and its program, budget and timetable for the preparation of the proposals referred to in subclause (2). Iron ore mining commenced at Yandicoogina in 1999.
(b) the date on which the 100 millionth tonne of such iron ore from the mining lease is transported from the mining lease submit to the Minister detailed reports of such investigations to the date of the report and its program, budget and timetable for the preparation of the proposals referred to in subclause (2).
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