Proactive Investors - Run By Investors For Investors

Mineral Resources sends off first iron ore train from Koolyanobbing Operations

The train is headed for Esperance port where it will begin stockpiling iron ore.
Mineral Resources sends off first iron ore train from Koolyanobbing Operations
Koolyanobbing is about 400 kilometres northeast of Perth

Mineral Resources Limited (ASX:MIN) has seen the first iron ore train leave its Koolyanobbing Operations, about 50 kilometres north of Southern Cross in WA’s Yilgarn region.

Consisting of 106 wagons carrying 7,488 tonnes of iron ore fines, the train left for Esperance yesterday to start stockpiling ore at the town’s port ahead of the company’s first iron ore shipment which is expected within the next four weeks.

Loading the first train marks an important milestone for the iron ore miner, having already completed ramp-up of production to reach nameplate capacity in less than three months.

Safeguarding hundreds of jobs

MIN managing director Chris Ellison said this was a great moment for the Yilgarn and Esperance communities.

He said: “When we decided earlier this year to take on the Koolyanobbing operations previously operated by Cleveland-Cliffs Inc, we did so because of our firm belief we could sustain a viable iron ore export operation in the region and safeguard hundreds of jobs in regional Western Australia.

“We look forward to building up our iron ore stockpiles at the port of Esperance ahead of loading our first ship before the end of this year.”

Ellison thanked Premier Mark McGowan and his government, as well as the leadership team at Esperance Port and Paul Larsen and his team at Arc Infrastructure.

Collaborative effort

The WA Government and key departments, including the Southern Port Authority, collaborated with MIN to modify the rail car dumper at Esperance to be capable of unloading the company’s fleet of bottom-dump rail wagons.

All of the train's locomotives and rolling stock is owned and operated by MIN.

The company has also received strong support from Arc Infrastructure, the owner of the train track network that connects Koolyanobbing to Esperance.

Koolyanobbing will provide direct employment for about 285 workers across the mine and related infrastructure, as well as indirect employment for about 415 people whose goods and services support the operation.

View full MIN profile View Profile

Mineral Resources Limited Timeline

Related Articles

Drilling rig
January 10 2019
Since its first half results in August, the drilling services firm has secured two key contract extensions as well as a new delineation drilling contract in Côte d'Ivoire
Interviewees
August 07 2018
The offer values Nash at £98.7mln and DBAY already controls 26.1% of Harvey Nash shares
Southend Airport
November 02 2018
Analysts at Canaccord Genuity and Stifel think Stobart offers attractive dividends with the company returning £63mln to shareholders in fiscal year 2018

© Proactive Investors 2019

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