BC Iron Agrees On Rail, Port Access With Fortescue Metals
28 May 2009 - 9:47AM
Dow Jones News
Iron ore junior BC Iron Ltd. (BCI.AU) said Thursday it struck an
agreement with Fortescue Metals Group Ltd. (FMG.AU) for rail
haulage and port services in the Pilbara region of Western
Australia.
Fortescue has agreed to transport 3 million tons of ore a year
initially, rising to 5 million tons when port and rail facilities
are expanded.
"We are pleased that FMG and BC Iron were able to follow on from
the intent of the memorandum of understanding signed in 2007," BC
Iron managing director Mike Young said.
Fortescue has been running a lengthy legal campaign seeking
access to the Pilbara railway lines of iron ore heavyweights BHP
Billiton Ltd. (BHP.AU) and Rio Tinto Ltd. (RTP) and has said it
will open its own infrastructure to third parties where it has
spare capacity.
-By Alex Wilson, Dow Jones Newswires; 61-3-9292-2094;
alex.wilson@dowjones.com
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