The agreement by CU River Mining to purchase the former northern power station site from Flinders Power Partnership is another step in the plan to renew Port Augusta’s economy.

“I am delighted CU River and Flinders Power Partnership have been able to reach agreement on a sale that offers jobs and investment for Port Augusta through the transformation of the old power station,” said Minister for Energy and Mining van Holst Pellekaan.

“The Marshall Liberal Government is deeply committed to the economic development of regional South Australia as a critical component of the state’s revival.

“The transformation of the northern power station site is just one of many business opportunities that are being explored across the Upper Spencer Gulf and Far North that will enhance the economic importance of our region to the State and the nation.

“It is significant that CU River’s plan to develop a bulk commodity and port facility makes use of existing infrastructure on the site, including a 5km rail loop and unloading systems.

“CU River’s proposal would re-establish Port Augusta as an international transport hub by using advances in ‘trans-shipping’ to access deeper water in the Upper Spencer Gulf to ship commodities such as iron ore.

“I’m pleased that CU River will continue the very important Community Reference Group established during the closure plan for the power stations.

 “Once the purchase had been settled, CU River will be required to submit the appropriate development applications seeking permissions to undertake its proposed activities.

“Community engagement will underpin the state government’s development assessment processes.”