News: AGO Atlas Iron Provides North West Infrastructure Update, page-5

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14/06/18

10:02

Post #: 33700783
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Originally posted by rcman ↑

Atlas Iron Limited (ASX: AGO) advises that North West Infrastructure (NWI) has received notice from the office of the Minister for Transport, Planning and Lands that implies that NWI does not have a priority right to develop Stanley Point Berths 3 and 4 in the Port of Port Hedland, Western Australia. The Minister has confirmed that Stanley Point Berths 3 and 4 are set aside for junior miners.

The Minister advises that the Pilbara Ports Authority will assess any application by NWI to develop these berths on its merits in accordance with the Pilbara Ports Authority’s standard port development processes.

Atlas considers that this position is contrary to the previous stated policy of the Western Australian government and is considering its position with respect to this notice.

Background Atlas is a founding member of the North West Iron Ore Alliance, now known as NWI. In 2009 NWI was conferred a 50mtpa channel capacity allocation to facilitate the development of a stockyard and two berth facility in Stanley Point, within the Port Hedland inner harbour. A detailed definition engineering and design costing study has been completed on this development.

Atlas has previously advised the market that the allocation is not yet the subject of a firm lease agreement with Pilbara Ports Authority. In January 2017, the Western Australian government announced a 5 year extension of NWI’s environmental approval in Ministerial Statement 891 Multi User Iron Ore Export (Landside) Facility – Port Hedland.

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AGO Price at posting: 4.5¢ Sentiment: Hold Disclosure: Held
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News: AGO Atlas Iron Provides North West Infrastructure Update, page-5

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