Iron Road signs infrastructure MoUs
PERTH (miningweekly.com) – Junior developer Iron Road on Friday signed four nonbinding memoranda of understanding (MoUs) and an indigenous land use agreement over its Central Eyre iron-ore project, in South Australia.
The MoUs, signed with infrastructure investors, allowed Iron Road to progress funding for the infrastructure components of the project.
The Central Eyre infrastructure requirements comprised a deep-sea port and export facility at Cape Hardy capable of loading Capesize vessels, as well as a standard-gauge railway line from the proposed mine to the port, a power transmission line, water pipeline and a borefield.
The MoUs were signed with Aixi Investments and provided for the parties to agree to cooperate on negotiations of third-party contracts, such as construction contracts, operation agreements and the negotiation of an infrastructure access agreement.
Iron Road MD Andrew Stocks on Friday said the successful financing of the infrastructure component of the Central Eyre project, alongside long-term supply agreements over mine offtake, would take the company a long way towards achieving full sources of funding.
“Funding by international pension funds will also support us in our commitment to allow third-party access to the Central Eyre infrastructure, including local grain exports.”
Iron Road earlier this week signed nonbinding MoUs with Chinese steel companies to support offtake agreements from the Central Eyre project.
Under the MoUs, the steel companies would conduct technical evaluations of the iron concentrates at the project to verify the commercial and technical merits of the product as a precursor to entering discussions towards a letter of intent for the long-term supply of concentrate.
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