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Perth, Jan 10, 2012 (ABN Newswire) - Murchison Metals Limited (
ASX:MMX) has been advised that the Western Australian Minister for the Environment, Mr Bill Marmion, has approved the Jack Hills Expansion Project ("JHEP") under Part IV of the Environmental Protection Act 1986.
The Minister's approval follows a favourable recommendation by the Environmental Protection Authority ("EPA"), as announced on 16 August 2011, and a determination in April 2011 by the Commonwealth Department of Sustainability, Environment, Water, Population and Communities that the JHEP was not a "controlled action" and would not require further approval under the Environment Protection and Biodiversity Conservation Act 1999 ("EPBC Act").
The JHEP is owned by Crosslands Resources Ltd ("Crosslands"). As announced on 24 November 2011, Murchison has agreed to sell all its interests in Crosslands and Oakajee Port & Rail to Mitsubishi Development Pty Ltd for A$325 million.
ASX:MMX) has been advised that the Western Australian Minister for the Environment, Mr Bill Marmion, has approved the Jack Hills Expansion Project ("JHEP") under Part IV of the Environmental Protection Act 1986.The Minister's approval follows a favourable recommendation by the Environmental Protection Authority ("EPA"), as announced on 16 August 2011, and a determination in April 2011 by the Commonwealth Department of Sustainability, Environment, Water, Population and Communities that the JHEP was not a "controlled action" and would not require further approval under the Environment Protection and Biodiversity Conservation Act 1999 ("EPBC Act").
The JHEP is owned by Crosslands Resources Ltd ("Crosslands"). As announced on 24 November 2011, Murchison has agreed to sell all its interests in Crosslands and Oakajee Port & Rail to Mitsubishi Development Pty Ltd for A$325 million.
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About Murchison Metals Limited
Murchison Metals Limited is an Australian ASX listed company. Murchison is included in the S&P/ASX 200 Index.
Murchison is a 50% shareholder in Crosslands Resources Ltd which is the owner of the Jack Hills iron ore project located in the mid-west region of Western Australia. The remaining 50% of Crosslands is held by Mitsubishi Development Pty Ltd ("Mitsubishi"), a subsidiary of Mitsubishi Corporation, Japan's largest general trading company.
Murchison also has a 50% economic interest in an independent infrastructure business, Oakajee Port and Rail ("OPR"). OPR was established to construct new port and rail infrastructure to provide logistics services to miners (including Crosslands) and other potential customers in the mid-west region of WA.
The remaining 50% economic interest in OPR is held by Mitsubishi.
In addition to its investments in Crosslands and OPR, Murchison owns the Rocklea iron ore project located in the Pilbara region of Western Australia.
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