QR National eyes Oakajee project

Company News

QR National (ASX:QRN) has reportedly said it would be willing to cooperate with Gindalbie Metals Limited (ASX:GBG) in developing an alternative proposal for the Oakajee port and rail project in Western Australia.

Media reports indicate the $6 billion project which is wholly owned by Japan’s Mitsubishi Corp. has stalled, after the WA government denied Mitsubishi exclusive rights to develop the project.

QR National was evaluating another infrastructure project in the region earlier this year - a railway to connect iron ore mines in the East Pilbara to Port Hedland in Western Australia.
QR National posted a net profit of $189 million in the first half of the 2012 financial year.