Extension of State Development Agreement for Oakajee Infrastructure Project
Murchison Metals Limited (“Murchison”) is pleased to advise that the Government of Western Australia and the Oakajee Port & Rail (“OPR”) Joint Venture Participants have executed documentation for the extension of the State Development Agreement (“SDA”) for the Oakajee port and rail infrastructure project.
As previously announced, the date specified in the SDA for completing detailed Implementation Agreements for the infrastructure project has been extended from 31 March 2011 to 31 December 2011.
The Oakajee infrastructure project involves construction of a multi-user deepwater iron ore port with an initial capacity of 45 million tonnes per annum at the greenfields Oakajee site, 25km north of Geraldton, and associated heavy haulage rail infrastructure serving the mid-west region of WA.
Murchison and Mitsubishi Development Pty Ltd each hold a 50% economic interest in OPR.
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