W H E R E A S the Joint Venturers have established the existence of diamond bearing ore bodies (including kimberlite pipes and alluvial deposits) within the Argyle mining area and the Ellendale mining area defined in Clause 1 and have carried out certain investigations relating inter alia to the mining and treatment of that ore and the sale of diamonds;
W H E R E A S. The Guarantor and the Company have entered into an Implementation Agreement (the “Implementation Agreement”).
W H E R E A S the State and the Company are the parties to the agreement ratified by the Iron Ore Beneficiation (BHP) Agreement Xxx 0000, which agreement is hereinafter called “the Principal Agreement”;
W H E R E A S the Company proposes to conduct ongoing investigations into the establishment of a new plant or plants within Western Australia for further processing of iron ore having a project cost or an aggregate project cost of at least $400M (June 1993 dollars);
W H E R E A S the Company is desirous of expanding the operations of the existing pine log sawmill at Dardanup for the production of finished timber for sale into domestic and international markets by progressively over ten years increasing the throughput of the sawmill from the current log input capacity of 70,000 cubic metres to 400,000 cubic metres per annum;
W H E R E A S the Company is or is entitled pursuant to transfers to be the holder of mining tenements comprising Areas A, B and C (as hereinafter defined) within which iron ore of tonneages and grades sufficient to warrant economic recovery and marketing have been established;
W H E R E A S the Company proposes to establish and operate materials handling facilities and a plant for beneficiating iron ore at Port Hedland; and
W H E R E A S for the purpose of providing electricity to the operations carried on pursuant to the Argyle Diamond Agreement (as hereinafter defined) and the Argyle Tourist Village and facilitating access by the State Energy Commission of Western Australia to electricity the Partnership intends to develop a hydro electric power station of at least 30 megawatts at Lake Argyle, a 132 kilovolt high voltage transmission line from the power station to the Argyle diamond mine and a 132 kilovolt transmission line from the power station to Kununurra;
W H E R E A S for the purpose of providing gas and electricity to the operations carried on pursuant to the Iron Ore Agreements (as hereinafter defined) and facilitating access by industrial consumers to gas and electricity the Joint Venturers intend to develop a gas turbine power station of at least 100 megawatts at Port Hedland, a 355mm diameter buried gas pipeline from an off-take point in the vicinity of Karratha to the power station and either a 220 kilovolt high voltage transmission line from the power station to Newman or a gas pipeline system from an off-take point in the vicinity of Newman on the proposed gas transmission pipeline between Dampier and Kalgoorlie and a gas turbine power station of at least 70 megawatts at Newman;
