Federal Environment Minister Peter Garrett has given the green light for Australasian Resources to develop its $2.7 billion Balmoral South iron ore project in Western Australia’s Pilbara region.
The company is now waiting on Western Australian Environment Minister Donna Faragher to set any conditions for the development of the project.
The State Government had already granted environmental approval to the project.
“The Federal Government approval is a major milestone for the project and marks a significant step towards developing this project into a world-class iron ore venture,” the company said.
“In summary, the impact assessment process is complete and the project has been deemed environmentally acceptable.” The company said it anticipated Faragher would release the conditions imminently.
Mining magnate Clive Palmer is the controlling shareholder of Australasian, with a 66.37% stake.