- Macarthur Minerals (MIO) and RCR Mining Technologies (RCR MT) have toured the Port of Esperance, the location of a planned rail transport and unloading solution
- Macarthur appointed RCR MT to design a solution for its flagship Lake Giles Iron Project, so it can progress to market
- The recent visit with Southern Ports has strengthened MIO’ belief the new rail technology would be extremely beneficial for itself and Esperance Port
- In particular, Macarthur believes its proposed transport solution would increase unloading capabilities and open up new business opportunities for the Port
- While the specialist rail carts designed by Kiruna Wagons could be manufactured by RCR here in Australia, opening up job opportunities
- Shares in the company are trading up 32 per cent, following its note holding conversion announcement
- MIO shares are currently worth 65 cents per share
Macarthur Minerals (MIO) and RCR Mining Technologies (RCR MT) have recently toured the Port of Esperance, the location of its planned transport solution for its high-grade magnetite from the Lake Giles Project
Macarthur recently appointed RCR MT to design a rail transport and unloading infrastructure solution for its flagship Lake Giles Project in WA, to bring the product to market through the Port.
RCR MT, a subsidiary of NRW (NWH), owns the exclusive rights in Australia for the Helix Dumper unloading system and wagons, which optimise transport of magnetite over conventional methods.
Members from the project leadership teams at both RCR MT and Macarthur travelled to Esperance last week to tour the existing infrastructure at the Port there, and to continue discussions with Southern Ports about developing the Helix Dumper at the Port.
Macarthur’s General Manager of Projects, Dean Carter, said the discussions with Port Authorities went extremely well and the overall visit was positively received by all involved.
He also said the company walked away from last week’s visit with a renewed belief the solution would be extremely viable for both MIO and Esperance Port.
In particular, Macarthur said RCR MT’s proposed unloading infrastructure solution would double the Port’s current capabilities and open up new business opportunities for the Port of Esperance.
While RCR MT’s exclusive Helix technology, which has successfully been used in Scandinavian magnetite operations, could be manufactured in Australia – opening up local job opportunities.
Following the site visit, the next step for the project involves RCR MT completing its engineering design report.
The report is expected to be finalised in the coming weeks, at which point Macarthur will begin negotiating with Southern Ports for the necessary allocation of land areas for the development.
“Completing these negotiations with Southern Ports Authority is the last domino to finalise Macarthur’s route to market for its Lake Giles Iron Project, after which we hope to build upon our good relationship with the Port and transition into a long-term partnership with them as a valued customer,” Dean said.
Meantime in related news, shares in MIO ended yesterday’s trading session up 30 per cent, following the company’s note holding conversion announcement.
Shares in Macarthur Minerals are now trading for 65 cents each at the open of the market on September 3.