Australia's Pilbara iron ore minnow BC Iron Ltd says it has struck a deal with the Fortescue Metals Group to ship ore to port over Fortescue's railways. BC said on Thursday that the in-principle agreement related to its Nullagine Iron Ore Project.
The agreement provides for an initial three million tonnes per year, rising to five million tonnes when port and rail facilities are expanded.
BC Iron managing director Mike Young said that whilst final details were being worked out, the deal would overcome the critical barriers to production caused by lack of open access to rail and port facilities.
Source: Trading Markets
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