Source: Macarthur Minerals
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Macarthur Minerals Limited (MMS) has signed a Memorandum of Understanding with the Southern Ports Authority
  • The MOU will provide a pathway for agreeing to a potential access and operating solution for the export of Macarthur’s high-grade magnetite iron ore product via the Port of Esperance
  • The Port of Esperance is an established deepwater port located south of Macarthur’s Lake Giles Iron Project
  • The MOU with Southern Ports is non-binding
  • Macarthur Minerals Limited is up 10.53 per cent to C$0.63 per share

Macarthur Minerals Limited (MMS) has signed a Memorandum of Understanding with the Southern Ports Authority.

The MOU will provide a pathway for agreeing to a potential access and operating solution for the export of Macarthur’s high grade magnetite iron ore product via the Port of Esperance.

The Port of Esperance is an established deepwater port located south of Macarthur’s Lake Giles Iron Project. It is accessible via an existing rail network and has the capability to handle large ‘Cape’ size iron ore vessels.

The MOU with Southern Ports is non-binding but it does establish a clear pathway for the design of a 300,000 tonne iron ore storage shed by Macarthur and the design of a new rail car unloading solution at the Port by Macarthur.

Southern Ports Authority Chief Executive Officer Steve Lewis said the company is pleased to sign this MOUIR.

“Southern Ports is committed to exploring opportunities for new business and increased trade through our ports. Continued exploration and growth in the mining industry surrounding the Esperance community has positive flow on effects for the local economy.”

The MOU with Southern Ports Authority provides a clear pathway that can support the delivery of the company’s current Feasibility Study and represents a substantial step towards Macarthur securing access to the Port of Esperance and completing a fully contracted route to market for its Lake Giles Iron Project.

The pathway process in the MOU is intended to align with the completion of Macarthur’s Feasibility Study for the Lake Giles Iron Project during the current calendar year so that the company can target commencement of first shipment of iron ore from Lake Giles in Q1 2024.

Macarthur Minerals Limited is up 10.53 per cent to C$0.63 per share.

More From The Market Herald
Superior Gold - Director, Michael Pesner.

" Superior Gold (TSXV:SGI) nominates new director

Superior Gold (SGI) has filed a management information circular for its annual general meeting.

" Sulliden Mining Capital (TSX:SMC) acquires securities of Xander Resources

Sulliden Mining Capital (SMC) acquired 7,142,857 units of Xander Resources in a private placement.

" Eastern Platinum (TSX:ELR) updates technical report on Crocodile River Mine

Eastern Platinum Limited (ELR) has filed a Technical Report on the Crocodile River Mine (CRM), North West Province in South Africa.