MINERAL Resources and BCI Minerals Limited have entered into agreementa that will enhance MRL’s Pilbara iron ore footprint.
They include the purchase by MRL of the Buckland Project from BCI for cash consideration of up to $20m, and the optimisation of the existing Iron Valley Agreement, whereby BCI will participate in the capital investment required to extend the mine life at Iron Valley through a partial rebate of MRL’s payments to BCI.
This series of agreements builds on MRL’s strong, long-term relationship with BCI through the Iron Valley Agreement.
MRL managing director Chris Ellison said the agreements reflected the company’s strong partnership with BCI and provided further opportunity for MRL’s Mining Services business to create value from stranded iron ore deposits in the Pilbara.
