qld rail facility, page-11

CLONCURRY MULTI-USER RAIL LOAD-OUT FACILITY GETS GREEN
LIGHT WITH BACKING OF THE QUEENSLAND STATE GOVERNMENT
MEMORANDUM OF UNDERSTANDING SIGNED BETWEEN CUDECO,
XSTRATA COPPER AND MINMETALS GROUP
The Company is pleased to report it has signed a joint memorandum of understanding with Xstrata Copper
and Minmetals Group for the joint development of the Company’s Multi-user Rail Load-out Facility near
Cloncurry, Queensland, Australia.
Today’s agreement addresses some 18 months of uncertainty faced by the wider Cloncurry region with
respect to limited rail access, and highlights the Company’s foresight in both recognising the need for
enhanced regional infrastructure and then taking the necessary steps to address the issue more than 12
months ago.
The Company welcomes both Xstrata and Minmetals to the Joint Facility, and embraces the degree of
cooperation expressed by all parties to develop the site for mutual benefit, not only of the signatories, but
for the benefit of the wider Cloncurry region and ultimately, the State of Queensland.
The Company also recognises the commitment of the new Newman government to help get Queensland
back on track, and thanks the Minister for Natural Resources and Mines, the Honourable Andrew Cripps,
for his support, and for the efforts of his department in facilitating the agreement.
As part of the agreement, Facility partners will make an annual contribution to a Local Cloncurry
Community Fund, plus make an additional payment based on the Facility’s throughput, all up expected to
total about $100,000 per year.
Unit 34, Brickworks Annex,19 Brolga Avenue, SOUTHPORT 4215
Phone: +617 5503 1955 Facsimile: +617 5503 0288
MARKET RELEASE 5
th
July 2012
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