Australian mining firm AuIron is to fast-track its involvement in a Ballymoney mine and power project development in order to take advantage of increasing demand for cheap electricity through the whole of Ireland.

As Northern Ireland and Eire are almost totally dependent on the import of energy, the Ballymoney plant could serve as a vital source of fuelled power in the ‘all-Ireland’ electricity market.

AuIron’s local subsidiary, Ballymoney Power, first acquired the site in 1986, but it was only until the advent of the peace process that the parent company revisited the area’s development strategy.

Following extensive exploratory evaluations, AuIron has now announced that it will commence the mining of lignite in the near future, with the site’s natural resources estimated to be able to sustain a 600MW power station for 30 years.

Speaking on behalf of AuIron, the chairman of Ballymoney Power, Neill Arthur, said that the company was ready to begin work on the £450 million project once planning and mining permission had been given.

However, Mr Arthur went on to warn that the “pretty indeterminate” system of planning that existed in the province could see the company’s work postponed indefinitely, as without a definite end-point, it would be difficult for the project to secure financing and commence mining activity. (CL)