Agripower wins $71m NAIF loan for expansion
Minister for Resources, Water and Northern Australia Keith Pitt said the loan would help Agripower to upgrade infrastructure and improve access to its amorphous silica mine site near Greenvale and its processing plant near Charters Towers.
The work will include a connection to the Townsville-Mount Isa rail line, a water pipeline and road sealing.
Mr Pitt said the expansion was forecast to support around 345 jobs during construction and 171 ongoing jobs when completed.
The work to upgrade infrastructure surrounding the company’s existing operations is expected to help act as a springboard for its proposed $600 million-plus Fertiliser Expansion Project.
Agripower is going through the approvals process for that major project, proposed to include a 1Mtpa processing plant near Townsville and the reopening of the 220km Greenvale to Yabulu rail corridor.
Mr Pitt said Agripower believed its mine could remain productive for 200 years.
“That means the project has the potential to generate real jobs and opportunities for generations to come, while injecting much-needed income into North Queensland as the economy recovers from the COVID-19 pandemic,” he said.
Assistant Minister for Northern Australia Michelle Landry said the Agripower investment decision meant NAIF had now offered about $1 billion in funding to 10 projects in northern Queensland.
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