Murchison Metals Limited (MMX) announces that the Premier of Western Australia, the Honourable Colin Barnett, MLA today signed a State Development Agreement with Oakajee Port & Rail (OPR) for the Oakajee port and rail infrastructure project. Murchison and Mitsubishi Development Pty Ltd (Mitsubishi), a subsidiary of Mitsubishi Corporation of Japan, each hold a 50% interest in OPR which will deliver a world-class open access infrastructure solution for the emerging resources industry in Western Australia’s mid-west.
The WA Government has also committed to invest directly in the construction of the common user portion of the port at Oakajee, 25 kilometres north of the mid-west city of Geraldton. The Government has estimated the capital cost of the outer harbour construction at $678 million and has made a request to the Federal Government to contribute 50% of this capital cost through Infrastructure Australia.
Murchison Executive Chairman Paul Kopejtka welcomed the signing of the State Development Agreement as a major step forward for the Oakajee infrastructure project and the expansion of Murchison’s iron ore mining business in the mid-west. “Today’s execution of the State Development Agreement for the Oakajee project represents a major milestone in the development of both our infrastructure and mining businesses,” said Mr Kopejtka. “The certainty delivered by the Agreement also allows all other miners in the mid-west region to now proceed with their own expansion projects.
