Key points

• Flinders Mines (FMS) has received an offer from farm-in partner BBI to restructure infrastructure ownership at the Pilbara Iron Ore Project (PIOP)
• BBI wants to divest its share in the project and offload its port and rail infrastructure, with Flinders to gain 100 per cent control of both
• BBI has floated the potential deal as a means to streamline financing discussions for the project with mining and infrastructure assets under a single corporate umbrella
• Flinders would pay the nominal sum of $1 plus a five per cent royalty on all goods shipped from the Balla Balla Port facility to settle the deal
• The deal is still embryonic at this point, with both companies needing to complete due diligence and gain approvals from shareholders and regulators