Macarthur Minerals Limited

Macarthur Minerals Limited

June 13, 2013 09:30 ET

Port of Esperance Announces Short Listed Consortia for Development of Esperance Port Multi User Iron Ore Facility

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 13, 2013) -


Macarthur Minerals Limited (TSX:MMS)(OTCQX:MMSDF) (the "Company" or "Macarthur") is pleased to report that on June 11, 2013 the Esperance Port Authority ("EPSL") announced that two consortia have been short listed to tender for development of the Multi User Iron Ore Facility ("MUIOF") planned at the Port of Esperance ("Port").

The successful parties, Qube Bulk Pty Ltd and Brookfield Infrastructure (Australia) Pty Ltd; and Yilgarn Esperance Solution consortium (comprised of McConnell Dowell Constructors (Aust) Pty Ltd, Asciano Ltd and Marubeni Corporation Ltd) are now eligible to submit bids for the next phase of the MUIOF development which will involve tendering to design, finance, build and operate the new facility.

The decision on the successful proponents has been endorsed by both the Western Australian Government's Public Private Partnership Steering Committee and the EPSL's Board of Directors.

In 2011 an independent report to the Western Australian Government provided analysis of the iron ore export potential of the Yilgarn region and drew to light the shortage of export infrastructure available to handle the forecast demand for iron ore from the region. In February 2012, the Western Australian Minister for Transport commenced a market sounding exercise to determine private sector interest in developing the MUIOF. The EPSL announcement marks the completion of the shortlisting phase of the Government's process and clears the way for both the successful parties to begin detailed financial analysis and detailed planning. Bids are expected to be lodged by the end of Q3 2013. After that the preferred proponent will be announced with construction expected to commence in early 2014 and be completed by early 2015.

The new MUIOF will allow the Port's capacity increased by 10 - 12 million tonnes per annum ("Mtpa").

Port Chairman, Bob McKinnon, confirmed that "an evaluation panel under the independent chairmanship of Dr Ken Michael had unanimously agreed that the two selected consortia had best addressed the project objectives… and had clearly demonstrated that they met the evaluation criteria required to proceed. Both have significant experience in infrastructure investment as well as designing, financing and operating major projects related to the movement and handling of large volumes of bulk products".

A copy of the announcement by EPSL can be found here:

For Macarthur this announcement heralds an optimistic future as the Company continues work to bring its Ularring Hematite Project to production and to market. Macarthur has a Capacity Reservation Deed with EPSL under which it has reserved capacity of 2 Mtpa in the MUIOF.

Macarthur's President, Chairman and CEO, Alan Phillips commented that, "this announcement provides a greater level of certainty that the development of the MUIOF at the Port will proceed and that it will occur in the promised timeframe. Yilgarn miners whose projects are well advanced (like Macarthur's) will now be able to forge ahead and can align the timing of their own mine development and production programs with the Port's timeline."

Currently in the pre-development stage Macarthur has a strong and capable Board, professional management, geological and engineering teams and is well advanced to move into the development stage.


Macarthur Minerals Limited is an Australian based resource development company currently focused on developing its Ularring Hematite Project, located in the Yilgarn iron ore district in Western Australia. The Ularring Hematite Project is located 110 km from rail infrastructure with a direct connection to the iron ore exporting Port of Esperance, Western Australia.

The Ularring Hematite Project has an indicated Mineral Resource of 54.46 Mt at 47.2% Fe and an inferred Mineral Resource of 25.99 Mt at 45.4% Fe (press release dated June 14, 2012; NI43-101 Technical Report dated June 29, 2012). In addition, Macarthur's Moonshine Magnetite Project has an inferred Mineral Resource of 1.3 Bt at 30.1% Fe (press release dated December 15, 2010; NI43-101 Technical Report dated March 25, 2011).

A Positive Preliminary Feasibility Study was released to the market on the Ularring Hematite Project in August 2012, which included a probable Mineral Reserve of 42.95 Mt at 47% Fe (press release dated August 16, 2012; Technical Report dated September 27, 2012). A Positive Preliminary Economic Assessment on the Moonshine Magnetite Project was released in February 2011 (press release dated February 7, 2011, Technical Report dated March 25, 2011).

On behalf of the Board of Directors,


Alan Phillips, President, Chairman & CEO

Caution Regarding Forward Looking Statements

Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, "forward-looking statements") within the meaning of applicable securities laws. The forward-looking statements in this press release reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. With respect to forward-looking statements contained in this press release, assumptions have been made regarding, among other things, the reliability of information prepared and/or published by third parties that are referenced in this press release or was otherwise relied upon by the Company in preparing this press release. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unforeseen technology changes that results in a reduction in iron or magnetite demand or substitution by other metals or materials, the discovery of new large low cost deposits of iron magnetite and the general level of global economic activity. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. The forward-looking statements contained in this press release are made as of the date of this press release and except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward- looking statements, whether as a result of new information, future events or otherwise.

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