Ann: Marampa Infrastructure , page-24

Cape Lambert secures Marampa infrastructure
The West Australian July 19, 2010, 8:01 am

Cape Lambert has moved to secure access rights and ownership of infrastructure and transport at its Marampa iron ore project in Sierra Leone.

The company will pay $45 million from cash reserves and asset sales to take a 33 per cent stake in the Marampa infrastructure with operator African Minerals retaining 57 per cent and the Sierra Leone government holding a 10 per cent interest.

African Minerals, through a special purpose infrastructure vehicle, will refurbish and operate the Marampa Infrastructure, which includes an 84km railway line to a deepwater port at Pepel.

African Minerals expects the refurbishment of the Marampa Infrastructure to be completed in the March 2011 quarter.

Once complete, Cape Lambert will have rights to a minimum throughput of two million tonnes per annum.

Cape Lambert has also secured an option to match any third party offer to acquire African Minerals' stake in the Marampa infrastructure, once the company completes construction of an alternative railway line for its Tonkolili iron ore project.
Cape Lambert executive chairman Tony Sage said the agreement ensured the Marampa project had access to suitable infrastructure, which would boost its value ahead of its proposed sale.

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