October 12, 2008

Murchison Metals JV lodges infrastructure proposal

Murchison Metals Ltd announced Oakajee Port & Rail Pty Ltd had lodged its bid to build a deepwater port at Oakajee in Western Australia's mid west with the West Australian Government.

The submission lodged is Oakajee Port & Rail Pty's response to the government's Request for Proposal and has the backing of a multinational consortium and a banking syndicate that includes every major trading bank in Australia.

Oakajee Port & Rail Pty is one of just two groups invited to tender for this project and the government expects to announce its preferred proponent by June 30.

Mr Paul Kopejtka executive chairman of Murchison said that the bid was compelling and financially robust and would deliver an outstanding solution for the infrastructure needs of the burgeoning mid west region. He said that "We are very pleased with the quality and strength of Oakajee Port & Rail Pty's bid and we are very confident it will be recognized for its ability to meet the needs of the mid west and unlock value for the entire state.”

Oakajee Port & Rail Pty in which Murchison and Mitsubishi Development Pty Ltd each have a 50% interest, was established to develop and operate the vital port and rail infrastructure needed by iron ore miners and other potential users.