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Australian Polaris Signs MOU With Esperance Port Authority
= Esperance port being studied as possible shipping port of Yilgarn iron ore =
Australian iron ore exploration and development company Polaris Metals NL announced October 21 that it has signed a Memorandum of Understanding (MOU) with the Esperance Port Authority to:

-- identify the requirements (operating and capital costs) for exporting ore from the Yilgarn Iron Ore Project through the berth at Esperance, and

-- collaborate to enable efficient and expedient development, should Esperance be selected as the preferred option for export.

At the stage of pre-feasibility study, the company assumed Fremantle Port's Kwinana bulk handling base as the shipping port for the Yilgarn iron ore. However, subsequent studies have indicated that the Esperance Port might offer an alternative in terms of a larger ship size and more rapid development of the land side infrastructure, to meet Polaris' export target dates. Once completed further studies, the preferred port option or mix of the two (dependent upon product type) will be selected.

Polaris Metals is carrying ahead with the Yilgarn Iron Ore Project (YIOP) that encompasses approximately 1,000 km2 of mining tenements, located 50 kilometers north of Koolyanobbing in Western Australia. Polaris is planning to commence mining Stage 1 of the YIOP in 2010 based on the Carina and Chamaeleon iron ore deposits.
last modified : Mon 27 Oct, 2008 [11:08]
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