VANCOUVER, British Columbia, April 08, 2019 (GLOBE NEWSWIRE) -- Macarthur Minerals Limited (TSX-V: MMS) (OTCQB: MMSDF) (the “Company” or “Macarthur”) is pleased to announce that it has partnered with Australian freight haulage company Aurizon to finalise a rail haulage contract for its Lake Giles Moonshine Magnetite Project (“Project”) in the Yilgarn region of Western Australia. This news follows the Company’s recent announcement that it has signed a binding Life-of-Mine Off-Take Agreement with Glencore International A.G. for the sale of iron ore to be produced from the Project from the commencement of commercial production.
Macarthur has entered into a Negotiation Agreement with Aurizon to provide above rail haulage services including the supply of rolling stock for the purpose of transporting iron ore from the Project to the Port of Esperance. Aurizon already has rolling stock available that was previously used by other iron ore operators in the region including 325 wagons. The rolling stock is fit for purpose and compatible with rail unloading infrastructure at the Port of Esperance. This represents a key component of the logistics solution for the Project.
Aurizon was selected as the preferred operator based on its superior supply chain experience, safety and operating capability and its expertise in bulk rail freight that includes the transport of over 40 million tonnes of bulk freight and iron ore throughout Australia. Aurizon has significant rail marshalling, maintenance and traincrew facilities at the Port of Esperance, a legacy investment from its previous Cliffs iron ore haulage contract. The open access rail network owned by Arc Infrastructure has available capacity and is accessible within 90 km of the Project and runs directly to the Port of Esperance.
Cameron McCall, Executive Chairman of Macarthur Minerals commented:
“Macarthur is pleased to be working with Aurizon to advance its rail haulage requirements and is very encouraged by its availability of rolling stock for the Project. Rail transport is an integral component in our supply chain and Macarthur and Aurizon have a common goal in expanding iron ore production in the Yilgarn region.
This partnership has the potential to significantly benefit the economies of the local mining communities surrounding the Moonshine Magnetite Project along with the Port of Esperance community of Western Australia. These areas have recently suffered from a significant decline in iron ore export. The development of the Project will be a vital boost to these local communities and the highly skilled workforce available in the region.
Anna Dartnell, General Manager Iron Ore for Aurizon commented:
“Aurizon is pleased to be working with Macarthur Minerals on Iron Ore transport solutions for its Lake Giles Moonshine Magnetite Project in the Yilgarn. We have extensive expertise in safely and reliably delivering Iron Ore in this region after servicing Portman and later Cliffs for more than 20 years. We look forward to being part of this opportunity with Macarthur Minerals, growing regional Australia by delivering bulk commodities to the world.”
Australian Iron Ore Projects
Macarthur Minerals has invested in excess of A$61m on its 100% owned Iron Ore Projects which cover an area of approximately 62km² located in the Yilgarn region of Western Australia, 175km northwest of the township of Kalgoorlie. The Projects have granted Mining Leases with advanced permitting and are adjacent to existing highly developed infrastructure suitable for iron ore exports.
Aurizon is Australia’s largest rail freight operator and a top 100 Australian Stock Exchange (ASX) company with a market cap of over $9.1 billion.
Aurizon’s bulk freight business delivers over 40 million tonnes of commodities a year and its coal business transport over 200 million tonnes annually.
Aurizon has significant experience in transporting iron ore in the Mid West region of Western Australia. Aurizon was the rail operator for Cliffs’ Koolyanobbing project prior to its closure, transporting over 11 million tonnes annually to the Port of Esperance.
ABOUT MACARTHUR MINERALS LIMITED (TSX-V: MMS) (OTCQB: MMSDF)
Macarthur Minerals Limited is an iron ore development company with its focus on bringing into production, its sizeable, 100% owned, Moonshine Magnetite and Ularring Hematite Iron Ore Projects in Western Australia. Macarthur Minerals also has prominent (~1,130 square kilometre tenement area) exploration interests in gold, lithium, nickel, cobalt in the Pilbara region of Western Australia. In addition, Macarthur Minerals has lithium brine Claims in the emerging Railroad Valley region in Nevada, USA.
On behalf of the Board of Directors,
MACARTHUR MINERALS LIMITED
Cameron McCall, Executive Chairman
Joe Phillips, CEO and Director
Telephone: +61 448899247
For further information please contact:
Investor Cubed Inc.:
Telephone: (647) 258-3310
Fax: (416) 363-7977
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Caution Regarding Forward Looking Statements
Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, “forward-looking statements”) within the meaning of applicable securities laws. The forward-looking statements in this press release reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. With respect to forward-looking statements contained in this press release, assumptions have been made regarding, among other things, the timely receipt of required approvals, the reliability of information, including historical mineral resource or mineral reserve estimates, prepared and/or published by third parties that are referenced in this press release or was otherwise relied upon by the Company in preparing this press release. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include fluctuations in exchange rates and certain commodity prices, uncertainties related to mineral title in the project, unforeseen technology changes that results in a reduction in iron ore demand or substitution by other metals or materials, the discovery of new large low cost deposits of iron ore, uncertainty in successfully returning the project into full operation, and the general level of global economic activity. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. The forward-looking statements contained in this press release are made as of the date of this press release and except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.