Fin Resources has just announced it will pursue a large-scale integrated green products opportunity in Western Australia’s Pilbara, following confirmation of the North Onslow project’s substantial renewable energy potential.
This large potential will soon be quantified via a scoping study that has so far indicated the likelihood for a 100% renewable-powered solar salt development, expanding into multiple end-products that are not only green but also in high demand in an existing local market.
The timely project is unfolding as the world moves towards environmentally sustainable production with growing recognition of Australia’s uniquely favourable position to supply premium quality green products powered by renewable energy sources.
FIN plans to leverage production of in-demand caustic soda, hydrogen and chlorine due to regionally abundant sun and wind over a 1,200 square kilometre tenement position. Significantly, production can occur under the existing mining legislation into a high-value domestic market that would benefit from the substantial carbon credits created.
The Company’s first stage is conceived as a solar salt processing operation, which will facilitate the production of multiple green products via a chlor-alkali plant powered by renewable energy, creating green caustic soda as its primary output. Caustic soda has a large domestic market in Western Australia due to the State’s 4 large alumina refineries. Green caustic would significantly reduce carbon emissions, as existing overseas production is largely reliant on coal-fired power stations. Local production would also bolster Australia’s manufacturing capability.
Meanwhile, a second stage opportunity is also on the cards, with scaled-up renewable power contributing to increased solar salt production for export, as well as additional green hydrogen.
The company’s Australian Stock Exchange-listed shares open today at 4c (8:00 am GMT+ 8 hours)