Murchison Metals Limited (ASX:MMX) Announce Oakajee Port And Rail (OPR) Planning 45MTPA Capacity For Foundation Customers
OPR has also announced Karara Mining (Gindalbie Metals (ASX:GBG)- Ansteel joint venture), Crosslands Resources Ltd (Jack Hills Iron Ore Project) and Sinosteel Midwest Corporation (Weld Range Iron Ore Project) as the potential foundation customers for the port and rail infrastructure projects.
Murchison and Mitsubishi Development Pty Ltd each own 50% of OPR and Crosslands.
Murchison's Executive Chairman, Paul Kopejtka, said: "When OPR was formed in 2007, we were confident that the development of infrastructure by OPR was the key to unlocking the potential of the mid-west region.
"The demand for capacity on the rail and through the port from potential customers in the region has exceeded our expectations and reinforces our long held view that OPR will be a viable, standalone business that will facilitate development in the mid-west region of WA.
"The selection of the potential foundation customers represents an exciting milestone for the project and has triggered a significant increase in the size of the project."
OPR is now working with the three selected mid-west miners to settle memoranda of understanding in the near future.
There is potential for further expansion of Oakajee beyond 45mtpa to meet additional demand from foundation and expansion customers.
OPR is on track to deliver a feasibility study to the Western Australian Government by the end of March with the final feasibility study to be completed later in 2010.
For the complete Murchison Metals Announcement including a copy of OPR's Media Statement dated 18 March 2010, please click the link below:
Murchison Metals Limited
Gindalbie Metals Ltd