fortescue takes first step in debt reduction, page-14

jakkiboy

Re: BC Iron

FMG to hold 25.0% share of JV
FMG to allocate 6.0mta capacity to JV as from 1 January 2013

Therefore haulage charged will be on 6.0mt per annum, at what price,, I am not sure.

EXTRACT

Completion of Sale of 25% Interest in Nullagine Iron Ore Joint Venture

Fortescue Metals Group Ltd (ASX: FMG, Fortescue) has today received the total net proceeds of A$190 million from BC Iron Ltd (ASX: BCI) in relation to the sale of a 25% interest in the Nullagine Iron Ore Joint Venture (“NJV”).

Effective from 1 January 2013, Fortescue will hold a 25% interest in the NJV and the capacity available to the NJV on Fortescue’s rail and port infrastructure will be 6 Mtpa.

Fortescue Chief Executive Officer Nev Power said he looked forward to continuing to build upon the strong relationship we have established with BC Iron over the years.