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|Flinders and Brockman Sign MOU over Pilbara Iron Ore|
Australia's Flinders Mines Limited announced on Jul 4 that it had executed a Memorandum of Understanding (MOU) with Brockman Mining Australia Pty Ltd to work in good faith towards an Aggregation Agreement covering their respective iron ore interests and export aspirations for their individually held iron ore assets in the East Pilbara region of Western Australia. As a result of entering into this MOU, Flinders will work with Brockman in good faith to negotiate with a view to finalising and arranging for the execution of the documents which will govern the advancement of the Aggregation Arrangements and related transactions. |
Flinders owns 100% of its Pilbara Iron Ore Project (PIOP) located in the East Pilbara of Western Australia. Flinders announced in May 2013 its intention to increase its PIOP Exploration Target to 180 to 280Mt (at 55 to 58% Fe) in addition to the existing combined Measured, Indicated and Inferred 917Mt Mineral Resource and is currently moving to drill test and convert areas of interpreted mineralisation to increase the current 917Mt global resource on its PIOP.
Brockman owns 100% of the Marillana iron ore project tenements located in the East Pilbara of Western Australia. The Marillana Project contains combined Measured, Indicated and Inferred Mineral Resources of 1.53Bt grading 42.6% Fe of detrital Mineralisation and a further 101 Mt grading 55.6% Fe of CID mineralisation.
Brockman also owns 100% of the Ophthalmia iron ore project located in the East Pilbara of Western Australia. The Ophthalmia Project contains total Indicated and Inferred Mineral Resources of 290Mt grading 59.1% Fe.
Brockman, through its joint venture interest in North West Infrastructure, has joint rights to co-develop a 50 million tonne per annum (Mtpa) marine port facility at Port Hedland which, when constructed, will include unloading, stockpiling and ship loading infrastructure (Port Project).
Brockman has undertaken a study with Aurizon Limited and Atlas Iron Limited to develop the East Pilbara Independent Rail (EPIR Project), which is a proposed heavy haulage railway and associated infrastructure in the East Pilbara of Western Australia connecting certain iron ore mines to the Port Project.
|last modified : Fri 12 Jul, 2013 [13:24]|