The following is an extract from the Minister for State Development:
30/09/2004
"The Minister said the Gallop Government was committed to developing a stronger economy and creating new jobs and opportunities and the successful development of the Mitchell Plateau resource represented an excellent opportunity for job creation in the Kimberley.
“The Gallop Government is keen to see the Mitchell Plateau resource developed as soon as possible so that new jobs and opportunities can be created in the Kimberley, and WA’s record low levels of unemployment can be further reduced,” "
I stand to be corrected here but I'm of the understanding that the WA Govt has made it compulsory to refine all Bauxite reserves at Mitchell Plateau on site.
Thus a JV would appear to be their best option.
Different story with UMC's Iron Ore reserves. It has many more options and a definite possibility for full production within three years.
UMC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
