AFR Fri 8-Nov Michael Hobbs Port Headland timelines a positive. [Junior iron ore miners Atlas Iron and Brockman Mining may welcome a concrete timeline from the Western Australian government to develop its allocation at Port Headland,according to one equity researcher. WA Premier Colin Barnett on Wednesday confirmed negotiations with the Port Headland Port Authority and North West Infrastructure-which includes Atlas and Brockman-on a timeline for the development of the two berths that were allocated in 2008, representing 50 million tonne a year. Mr Barnett said it would require a series of development timelines that, once finalised, must be met by NWI to maintain the capacity allocation. It is understood the allocation includes a sunset clause that occurs in 2017. This clause may result in the allocation being redistributed if they fail to meet infrastructure development goals that are being finalised. BHP Billiton and Fortescue Metals which already operate from the port, would be interested in the space and it is believed Aurizon Holdings is also keen on the allocation. BBY senior resources analyst Mike Harrowell said a firm deadline could assist Atlas and Brockman to design their expansion strategies. "If the department of state development say they want a timeline, that's really a positive for Brockman and Atlas. At the moment it is all shifting sand," he said. "there is nothing these companies would want more than to have a concrete timeline you can work to. It is not a negative." Atlas could not be reached for comment and Brockman declined to comment. Both company shares closed unchanged on Thursday ]
AGO Price at posting:
$1.14 Sentiment: None Disclosure: Held
