Sign up Australia
Proactive Investors - Run By Investors For Investors

Legacy Iron Ore welcomes potential expansion of Esperance port

Legacy Iron Ore welcomes potential expansion of Esperance port

Legacy Iron Ore (ASX:LCY) has welcomed the recent move by the Western Australian government to potentially expand the port capacity for iron ore exports at Esperance.

The WA transport minister Troy Buswell, recently said that private sector interested in designing, financing, building and operating a new multi-user iron ore facility at the Esperance port can participate in a Registration of Interest and Prequalification process.

Legacy Iron, which owns the Mt Bevan iron ore mine, had participated in a market sounding effort last year that identified a need to increase the export capacity at Esperance Port, from the the current capacity of 11.5 million tonnes per annum to about 23 million tonnes.

This expansion is primarily driven by increased iron ore activities in the Yilgarn region.

The Port's rail network will be upgraded and strengthened to cater for the increase in tonnages of iron ore being handled.

The new multi-user facility will be located within the Esperance port boundary and the construction of the facility is proposed to commence in early 2014 with completion likely in early 2015.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.   

View full LCY profile View Profile

Legacy Iron Ore Ltd Timeline

Related Articles

copper wires
Leigh Creek will add to the cash being generated by New Mexico-based iron ore business Cobre to fund exploration and development opportunities elsewhere.
copper tubes
May 30 2018
The latest economic study at Parys Mountain has delivered some encouraging numbers against a backdrop of rising base metals prices
March 13 2018
Getting financing will be a "significant" milestone toward the construction, said the group

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use