Interesting to see that the Japanese are still keen to invest in partially completed projects with port allocation at a market premium.
Must have some implications for the value of BRM even without rail.
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Murchison to sells stakes in mine, Oakajee to Mitsubishi
MURCHISON Metals soared after it said it would sell its stakes in two iron ore-related projects in Western Australia to Japan's Mitsubishi for $325 million, the company said today.
Murchison said the deal would see Mitsubishi take on its stakes in the Jack Hills iron ore mine and Oakajee port and rail project.
The two companies hold an effective 50 per cent in each project. By late morning, Murchison shares were up 49.09 per cent at 41 cents. The broader market was flat.
The deal would be subject to a shareholder vote in February, Murchison said, and was conditional on no better offer emerging.
http://www.theaustralian.com.au/business/mergers-acquisitions/murchison-to-sells-stakes-in-mine-oakajee-to-mitsubishi/story-fn91vdzj-1226204463818
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