Arrium Limited
(ASX:ARI) has formed an agreement with the South Australian government to create a major-multi user port at Whyalla.
It follows a report by the Resources Infrastructure Taskforce which identifies Whyalla as one of three preferred options for a multi-user, bulk capacity port in the Upper Spencer Gulf.
Arrium says the port is a scalable, versatile and valuable infrastructure asset with a proven capability of handling large volumes of bulk mineral cargoes.
It says the investment will also encourage the development of numerous magnetite deposits that exist in South Australia.
Arrium reported a net loss of $1.91 billion at 30 June.
