CITIC Pacific Mining has launched the $5.2 billion Sino iron project at Cape Preston, 100 km south-west of Karratha in the Pilbara of Western Australia.
The company will develop the largest magnetite mining project in Australia and the first iron ore mine in Australia to include large scale downstream processing.
With an expected mine life of at least 25 years, the Sino project is based on two billion tonnes of magnetite ore and is expected to export around 27.6 Mtpa of high grade pellets and concentrate.
The project involves construction of processing and support infrastructure including a magnetite concentrator, pellet plant, slurry pipeline, port facilities, and power station with a capacity of at least 450 megawatts, a desalination plant and an accommodation village.
The company has flagged the possibility for much of the proposed infrastructure to be available for third party use.
The company says the project has four potential expansion options, which would increase production to more than 70 Mtpa.