Aussie miner Murchison Metals Ltd
(ASX:MMX) joint venture partner Mitsubishi Corp has come out in defence of the two companies Oakajee alliance, saying media claims it is to withdraw from the project are false.
Speculation circulated that the Japanese company was looking to walk away from the venture.
Mitsubishi says the rumours are completely groundless and reiterates its support for the alliance and the 2014 target for first exports of iron ore through the new Oakajee port.
Murchison and Mitsubishi each hold a 50 per cent interest in Crosslands Resources, owner of the Jack Hills iron ore project in WA, and Oakajee Port and Rail, the independent infrastructure business that has the exclusive right to develop the port at Oakajee and associated northern rail infrastructure.
Murchison Metals booked a loss of $21.59 million for the 12 months to June 30, 2010.
