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Fin Resources confirm West Pilbara export option

14 September 2021 09:48
ASX: FIN

Fin Resources has further enhanced the compelling economics of its 100 per cent renewable-powered North Onslow Solar Salt project in Western Australia’s West Pilbara region, following confirmation of nearby Coolgra Point as the most favourable location for a scalable, multi-commodity transhipment berthing facility for export.

Fin is completing a scoping study into the viability of producing in-demand caustic soda, hydrogen and chlorine harnessing the regionally abundant sun and wind over a 1,200 square kilometre tenement position.

Significantly, the company has found that production can occur under the existing mining legislation into a high-value domestic market that would benefit from the substantial carbon credits created.

The Fin-controlled facility, requiring only a short jetty and no dredging, is proposed to be managed under the territorial jurisdiction of the Pilbara Port Authority and within FIN’s licence footprint, has been identified for its strategic advantage providing a cost-effective solution supporting not only the proposed development but also other third parties seeking to export bulk commodities in the region.

Fin said the confirmation further underpins the positive conclusions of its soon-to-be quantified scoping study of the sun and wind-powered development.

It looks forward to providing updates on further project developments, including discussions with potential operating, financial and strategic partners.

The company’s Australian Stock Exchange-listed share price was trading at 4.7c today (9:51 am GMT+ 8 hours).

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