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    MinRes Furthers Joint Venture Option with Brockman for Marillana

    Olivia Da Silva
    Jan. 22, 2019 02:35PM PST

    Mineral Resources is making progress on a farm-in and joint venture agreement with Brockman Mining over the Marillana iron ore project.

    MinRes Furthers Joint Venture Option with Brockman for Marillana

    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.

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    Olivia Da Silva

    Olivia Da Silva

    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.

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    Olivia Da Silva
    Olivia Da Silva

    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.

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