Miner Brockman Resources Ltd
(ASX:BRM) has been granted a mining lease at Marillana in Western Australia by the Department of Mines and Petroleum.
The company says the granting of this mining lease means Brockman has taken a significant leap forward towards realising its objective of becoming the fourth largest iron ore producing company in Australia.
Brockman has spent two years conducting field surveys and holding discussions and negotiations with the traditional landowners.
Managing director Wayne Richards says the granting of this lease coincides with the market forecast for a solid start to 2010 with the implied ore FOB spot price now attracting an 80% premium to the 2009 contract price.
Brockman Resources reported a loss for the year ended June 30, 2009.
