Macro Metals Ltd (ASX:M2M) has signed a Memorandum of Understanding (MOU) with Norden – a Danish company with expertise in global maritime operations – to form an incorporated special purpose vehicle (SPV) intended to build, own and operate a multi-user, bulk commodity transhipping facility in the West Pilbara.
The facility’s function will be the delivery of a cost effective and fit for purpose infrastructure
solution for the receival, materials handling, and ship loading of bulk commodities onto
transhipping vessels.
Part of the memo signed this week will include the intention for this SPV to liaise with owners of bulk commodity projects in the West Pilbara, offering them a complete pit to customer supply chain solution.
As part of the latter, Norden, a subsidiary of Danish company Dampskibsselskabet NORDEN A/S, will provide transhipping on behalf of the SPV while Macro will run the pit to port mining services.
Macro managing director Simon Rushton declared the agreement is expected to provide a potentially transformative project for the region.
“They (Norden) have a seriously impressive history of providing safe, reliable and innovative marine transport solutions around the world and for Macro to be able to leverage their experience and expertise as a partner in delivering a bespoke export solution that can be used for both Macro products and that of third party users is a fantastic outcome,” he said.
“Securing access to a cost effective and sustainable export solution for Macro’s West Pilbara
projects has been a key focus for me since joining the company.
“It became readily apparent there is an immediate need for a fit for purpose, truly multi-user export facility to service the West Pilbara and for Macro to secure the rights in partnership to deliver such a facility is entirely consistent with our stated intention to build Macro into a diversified mining and mining services business.
“The formation of this strategic partnership between Macro and NORDEN will mark a significant milestone in advancing our West Pilbara projects and underscores our commitment to innovative and sustainable development.”
Investors appeared to be impressed by the news, and at 12:22 AEDT, shares in Macro were trading at 1.9 cents – a rise of 5.55% since the market opened.
Join the discussion: See what HotCopper users are saying about Macro and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.