Brockman Resources Ltd (ASX: BRM)
ASX/MEDIA ANNOUNCEMENT 10 MAY 2010
Public Environmental Review Commences For Marillana Iron Ore Project
KEY MILESTONE IN APPROVALS PROCESS FOLLOWING RECENT OFF-TAKE DEAL WITH SINOSTEEL
Australian iron ore company Brockman Resources Limited (ASX: BRM ? ?Brockman? or ?the Company?) has moved another step closer towards the development of its Marillana Iron Ore Project (?Marillana Project? or ?the Project?) in Western Australia?s Pilbara with the State?s Environmental Protection Authority (?EPA?) today approving the release of the Project?s Public Environmental Review (?PER?) for public comment.
The PER document has been through a comprehensive review process with Western Australia?s EPA prior to its release for public comment today. The public comment period will run for a 4-week period, with submissions open until Tuesday 8 June 2010.
The EPA will then consolidate the public submissions for Brockman?s response. Upon conclusion of this process, the EPA will make its final assessment report and recommendations to the Minister for
Environment. Subject to an appeals period, the Minister will then make the final project approval decision based on environmental, social and economic considerations.
Commenting on the announcement, Brockman?s Managing Director, Mr Wayne Richards, said:
?We are very pleased to have achieved this important milestone in the approvals process for the Marillana Project. Brockman has already completed approximately 20 months of detailed surveys, studies, reports and discussions with key stakeholders and regulators, and we are now in a position to build this project with an extremely good understanding of the regional environmental, social and heritage values.?
?This public review process provides an important vehicle to ensure all conservation and management measures are integrated within our project implementation plan as we push forward into construction and, ultimately, operation.?
?The EPA?s approval of the PER for public comment represents another example of Brockman?s ability to deliver solid results and meet aggressive targets. We remain on track to complete a Definitive
Feasibility Study for the Marillana Project before the end of the third quarter of 2010.?
The commencement of the PER public review period caps a busy month for Brockman, following the recent signing of a landmark non-binding Memorandum of Undertaking (?MoU?) with China?s largest iron ore importer, Sinosteel Australia Pty Ltd (?Sinosteel?), for the purchase of up to 50% of future production from the Marillana Project.
The MoU with Sinosteel considers the purchase of a maximum of 10 million tonnes per annum of production over an initial 5-year off-take period. Significantly, the MoU also contemplates the parties discussing wider strategic investment options by Sinosteel in the Marillana Project.
ABOUT BROCKMAN RESOURCES LIMITED
Brockman is an ASX300 listed Company with its principal project, the Marillana Iron Ore Project, located 100km north-west of Newman in the Pilbara region of Western Australia and lying close to existing rail, road and port infrastructure. The Marillana Project will potentially be the largest ?junior? iron ore (hematite) project in Australia.
Brockman has built a portfolio of additional iron ore tenements throughout the Pilbara (predominately the West Pilbara) to develop a pipeline of future projects and expansions, thereby creating future value enhancement to the Company?s shareholders.
Through our membership of the North West Iron Ore Alliance, the Company has been successful in formalising the ?reservation? of two inner harbour berths and associated material handling infrastructure at Port Hedland which can accommodate an allocation of 50 million tonnes per annum of export capacity.
The Marillana Project is scheduled to commence production in 2013 at a nominal rate of 17-20 million tonnes per annum.
Wayne Richards
Managing Director
?ENDS? Released by:
Nicholas Read / Kate Bell
Read Corporate
Phone: +61 8 9388 1474 |
On behalf of:
Wayne Richards
Managing Director
Brockman Resources Limited
Phone: +61 8 9389 3000 |
READ CORPORATE
Public Relations Corporate Communications
T: (+61-8) 9388-1474 | F: (+61-8) 9388-1472 | E: info@readcorporate.com.au | Web: www.readcorporate.com.au
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