In its 2011 December quarterly report, the mining company says our city is an asset “which the company can leverage going forward.”

The harbour was emphasised in the report.

“The company sees potential to use Port Pirie to provide a key mine-to-market solution for its South Australian projects which, without access to a port, could be difficult to develop,” it says. And while the report again highlighted that the company has approval to export iron ore, the possibility of seeking approval for other materials was flagged.

“The company believes the site is equally suited to a range of other bulk commodities,” the report says.

Also revealed was the value to shareholders of the sale of its iron ore assets to One Steel in Whyalla.

The report says that shareholders received a cash distribution of $1.05 a share from the sale, equating to a return on capital of 42 cents a share.

The sale of the iron ore assets last year ended Port Pirie’s hopes of having an export terminal located here.

Meanwhile, the cost of recent storm damage at the George Street site was revealed as being worth tens of thousands of dollars.

“An unusually severe storm hit Port Pirie during the afternoon of December 17 last year,” the report says. “The storm caused much damage in the town, including to the company’s property. Much of the peri- meter fencing was destroyed.”

The report emphasised that the company “has not sold its Port Pirie land, leases with third parties and its approvals to build a bulk commodities receival, storage and load-out facility and the company is seeking to leverage off this strategic set of assets going forward”.