Marillana JV kicks off
PERTH (miningweekly.com) – A joint venture (JV) over the Marillana iron-ore project, in the Pilbara, between ASX-listed Mineral Resources (MRL) and Brockman Mining has kicked off, after the parties executed a mine-to-ship logistics agreement for the transport of the Marillana ore to Port Hedland.
MRL said on Tuesday that the Marillana ore will be transported through a light rail system from the mine to the port.
The mine-to-ship logistics agreement will see MRL construct, commission and operate the rail, rolling stock and port infrastructure require to transport up to 30-million tonnes a year of iron-ore from the mine site to Port Hedland, and to load it onto vessels for export, over the life of the Marillana project.
The agreement remains subject to a number of conditions precedent, including MRL executing a State Agreement with the Western Australian government, procuring all the leases and licences for the light rail system and port infrastructure, obtaining project finance to fund the construction and commissioning of the rail and port infrastructure, and the MRL board making a final investment decision to proceed.
In the interim, in order to acquire a 50% interest in the Marillana project, MRL will spend A$250 000 on exploration and development activities over the next six months, complete the process design criteria for the processing plant, optimise the mine plan study and finalise the mine development layout plan.
On the satisfaction of these farm-in obligations, the two companies will form a JV to develop the Marillana project.
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