Corporate Profile
Murchison Metals Ltd
Murchison Metals Limited ('Murchison') is an Australian ASX listed company. Murchison is included in the S&P/ASX 200 Index.
The Company is aiming to create shareholder wealth through mining and exporting high quality iron ore to world markets.
Murchison is a 50% shareholder in Crosslands Resources Ltd ('Crosslands') which is the owner of the Jack Hills iron ore project located in the mid-west region of Western Australia. The remaining 50% of Crosslands is held by Mitsubishi Development Pty Ltd ('Mitsubishi'), a subsidiary of Mitsubishi Corporation, Japan's largest general trading company.
In addition, Murchison has a 50% economic interest in a new independent infrastructure business, Oakajee Port and Rail (OP+R). OP+R is seeking to be awarded the right to construct new port and rail infrastructure to service miners (including Crosslands) and other potential customers in the mid-west region of WA. The remaining 50% economic interest in OP+R is held by Mitsubishi.
Murchison has a strong, experienced and energetic hands-on management team which will continue to support both Crosslands and OP+R to become, respectively, a leading iron ore producer and a leading infrastructure business.
Crosslands Resources Ltd
Crosslands is employing a two-stage strategy to develop its Jack Hills project. The Jack Hills iron ore project ('Jack Hills Project') is located approximately 380 kilometres north-east of Geraldton.
Stage 1 involves a five year mine plan using contract mining, crushing and screening. High grade iron ore is transported to Geraldton by contract road hailage to ore storage and transfer facilities at the Port of Geraldton, ahead of shipment to customers located predominantly in China. Mining and exports have begun and sales contracts secured for 95% of planned annual Stage 1 production.
Stage 2 of the Jack Hills Project is targeting a substantial expansion of annual production. A bankable feasibility study for the expansion is well advanced and, subject to the government administered process for the selection of the preferred developer of the Oakajee port, is expected to be comlete in 2008.
The West Australian government's review into balancing mining and environment in the mid-west region has shown a favourable predisposition to mining at the jack Hills Project, with the project tenements falling outside areas of high environmental sensitivity.
The Government's report provided further clarity and certainty on the process for securing the remaining environmental approvals for the Jack Hills Stage 2 project.
Oakajee Port and Rail Pty Ltd
Oakajee Port and Rail (OP+R) was established to work independently of Crosslands. It is internded that OP+R will be independently operated on a commercial basis so as to promote open access to all users of port and rail infrastructure. OP+R recently appointed its founding CEO, Mr Chris Eves.
OP+R’s infrastructure development feasibility studies for the mid-west region encompass all aspects of the development, including environmental, Aboriginal heritage and economic aspects
On 8th
October 2007. the WA Minister for Planning and Infrastructure Alannah MacTiernan announced a Request For Proposals process would be conducted for the opportunity to develop the Oakajee port.
The process would be restricted to Murchison Metals Ltd and one other company or their nominated infrastructure provider.
Subsequently, on 21st December 2007, the WA Government released a discussion paper on the development of a deepwater port at Oakajee.
Throughout the quarter, OP+R has continued to work closely with the WA Government’s Oakajee Policy Team regarding the process and timeframe for the selection of an infrastructure provider for the Oakajee Port and selection of an appropriate rail corridor connecting the Mid West regional mines to the ports of Geraldton and Oakajee.
OP+R has also worked closely with relevant government agencies and the Geraldton Iron Ore Alliance to promote the extension to the existing environmental approval for the