anew era looms for aurium, page-8

Apologies for the delay.

I, too believe that the Oakajee Port will eventually be built - probably with Chinese assistance. And probably before the PDY/AGU JV requires it. My point was that it isn't with the 'certainty' that Quinn accredites to it.

Below is an extract from the Australian 5 November.

"THE West Australian government could end Murchison Metals' hopes of building the state's $4.4 billion Oakajee infrastructure project.
The Perth company, with joint-venture partner Japan's Mitsubishi, said yesterday a bankable feasibility study for the Oakajee Port and Rail project would not be complete until the second quarter of next year, pushing out expected first shipment by almost a year to 2015.

But the extension in the project's timeframe needs approval from the state government, and while the issue has been discussed with Premier Colin Barnett, he is yet to agree.

Mr Barnett said last month that he would consider extending next year's implementation agreement deadline for the project only "for a very good reason".

Murchison managing director Trevor Matthews said yesterday he remained confident of gaining government approval."We think because of the amount of work and effort we have put in, and that we have now committed to schedules and communicated that to the Premier, we have a degree of confidence they will look at it positively," he said.

Industry insiders said the delay could be the trigger the government needed to source alternative options to get the infrastructure built, with the possibility of a China-led solution already being discussed.

The Australian exclusively reported doubts were being cast over the project on September 21, when market rumours surfaced that Mitsubishi was looking to exit its partnerships with Murchison and China was being sourced as a plan B.

OPR is a 50-50 joint venture between Mitsubishi and Murchison Metals and they are both also partners in Crosslands Resources, which is developing the Jack Hills iron ore project.

Murchison had repeatedly rejected the speculation Mitsubishi was looking to pull out of its joint ventures and that the Jack Hills expansion project, which has also now been delayed, was on track to start exporting iron ore, using the OPR infrastructure, in 2014.

The company said both Murchison and Mitsubishi remained committed to the projects."