- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
MinRes Furthers Joint Venture Option with Brockman for Marillana
Mineral Resources is making progress on a farm-in and joint venture agreement with Brockman Mining over the Marillana iron ore project.
Mineral Resources (ASX:MIN) is progressing on a farm-in and joint venture deal with Brockman Mining (ASX:BCK) over the Marillana iron ore project in Western Australia’s Pilbara region.
The latest development came on Monday (January 21), when the two companies executed a mine-to-ship logistics agreement for the transport of iron ore from Marillana to Port Hedland by a light-rail system.
The agreement is still subject to conditions such as: MinRes entering a state agreement with the Western Australian government; gaining project finances to fund the project infrastructure; gathering all necessary leases and licenses for the rail system and port infrastructure; and the company’s board making a final investment decision.
When the necessary conditions are met, the agreement will see MinRes construct, commission and operate the rail, rollingstock and port infrastructure needed to transport up to 30 million tonnes per year (Mtpa) of iron ore from Marillana to Port Hedland.
This will include loading the product onto vessels for export, and will be effective during Marillana’s full lifespan.
In order to earn a 50-percent stake in the asset, MinRes must spend $250,000 on exploration and development activities on Marillana tenements. It must also complete the process design criteria for Marillana’s processing plant, optimize its mine plan study and finalize the mine development layout plan.
Once those obligations are covered, the companies will form an unincorporated 50/50 joint venture and will move forward together on developing Marillana.
Marillana is expected to produce 20 Mtpa of iron ore product, but has the potential to push production capacity to 30 Mtpa. As of May 2018, the project had a total iron ore mineral resource of 1.51 billion tonnes, with ore reserves amounting 1 billion tonnes.
MinRes’ share price was down 0.19 percent on Tuesday (January 22), ending the trading day on the ASX at AU$15.99. Meanwhile, Brockman was up 5.19 percent, closing the day at AU$0.04.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.
The Beginner’s Guide to Investing in Gold (Australia Edition)
Ready to invest in gold? Our beginner's guide makes it simple to get started.
Download your investing guide today.
Learn About Exciting Investing Opportunities in the Gold Sector
Your Newsletter Preferences
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.
A graduate of Durham College's broadcast journalism program, Olivia has a passion for all things newsworthy. She got her start writing about esports (competitive video games), where she specialized in professional Call of Duty coverage. Since then, Olivia has transitioned into business writing for INN where her beats have included Australian mining and base metals.
Learn about our editorial policies.