- Macarthur Minerals (MIO) strengthens its direct shipment ore (DSO) position in the Yilgarn Region of Western Australia
- The company has signed an additional rail haulage deal with Aurizon for the transport of iron ore at a rate of up to 500,000 tonnes per annum
- However, the contract is subject to conditions such as securing matching capacity at Fremantle and Esperance ports
- Macarthur’s potential access to rail haulage capacity in Western Australis has expanded to almost one million tonnes over the next 12 months
- On the market, Macarthur is up 7.14 per cent and is trading at 60 cents per share at 2:25 pm AEST
Macarthur Minerals (MIO) has strengthened its direct shipment ore (DSO) position in the Yilgarn Region.
The company has signed an additional rail haulage deal with Aurizon for the transport of iron ore at a rate of up to 500,000 tonnes per annum between West Kalgoorlie and Kwinana.
However, the contract is subject to conditions such as securing matching capacity at Fremantle and Esperance ports.
Macarthur’s potential access to rail haulage capacity in Western Australis has expanded to almost one million tonnes over the next 12 months and up to 2.1 million tonnes over four years.
CEO Andrew Bruton is pleased with the new contract.
“This agreement has the potential to increase Macarthur’s overall access to rail haulage capacity and enhances the foundations for the company’s ambitions to commence iron ore exports as soon as possible,” he said.
“It is another pleasing step towards realising our objective to transition to revenue generating activities and Macarthur is delighted to be partnering with Aurizon.
“With continued diligence, resolve and respectful engagement with key stakeholders, we remain very optimistic that it is now not a matter of if, but when, the company will finally conclude the balance of the necessary arrangements that will enable it to commence moving and exporting iron ore products.”
On the market, Macarthur is up 7.14 per cent and is trading at 60 cents per share at 2:25 pm AEST.