Brockman Resources Limited (ASX Code: BRM)
ASX RELEASE 24 JUNE 2008
BROCKMAN WELCOMES NCC RECOMMENDATION
TO DECLARE PILBARA RAIL LINES
- Brockman Resources welcomes draft recommendation from NCC that services provided by BHP and Rio Tinto railways be declared under the Trade Practices Act
- Final recommendation from Federal Treasurer would bring major benefits for the development of Brockman?s Marillana Iron Ore Project and other Pilbara assets
Western Australian iron ore company, Brockman Resources Limited (ASX Code: BRM ? ?Brockman?) has welcomed the recent announcement by the National Competition Council (?NCC?), recommending that the services provided by BHP Billiton?s Goldsworthy railway line, and Rio Tinto?s Hamersley and Robe railway lines, be declared under Part IIIA of the Trade Practices Act 1974.
The Company announced today that the NCC?s draft recommendation had positive implications for the development of its flagship Marillana Iron Ore Project and future iron ore projects within the Pilbara district. Brockman currently owns eleven additional iron ore tenements (100% owned) within the Pilbara.
Managing Director of Brockman Resources, Mr Wayne Richards, said the recommendation was another positive move towards negotiating third party access to the Pilbara?s rail infrastructure.
?Brockman has been closely involved in the NCC submission process through its membership in the North West Iron Ore Alliance, and we are very pleased by the NCC?s decision today to recommend a declaration of service,? Mr Richards said. ?With this recommendation coming shortly after the release of the draft Pilbara Railways Third Party Haulage Regime last week, we feel the industry is making positive moves towards gaining third party access to key Pilbara rail infrastructure.?
The NCC?s draft recommendation will now be subject to a public submissions period, after which a final recommendation will be made to the designated Minister, the Hon. Wayne Swan, MP, Treasurer. The Minister then has 60 days to decide whether or not he will implement the NCC?s recommendation.
A final declaration from the Minister would provide third party iron ore producers in the Pilbara with a legally enforceable right to negotiate access to the railway lines.
Mr Richards said the right to negotiate rail access would be a major step forward for the Company: ?There is no doubt that negotiating access to existing rail infrastructure would significantly enhance the development potential of Brockman?s Pilbara iron ore assets, and would provide a greater degree of confidence and clarity in our ongoing negotiations with rail infrastructure providers,? he said. T
he Marillana Project has a current JORC Code compliant resource estimate of 1.1 billion tonnes of hematite mineralisation. Earlier this month Brockman announced plans to complete a A$112.5 million capital raising to fast-track a Pre-Feasibility Study for a 15?25Mtpa Project at Marillana, targeting first ore
production at a nominal rate of 2Mtpa by late 2009.
The Marillana Project is located 100km north of Newman between the Hamersley Ranges and Fortescue River Valley in Western Australia?s world-class Pilbara iron ore region. The tenements surrounding the Marillana licence area, E 47/1408, are held by high-profile iron ore producers and developers Rio Tinto, BHP Billiton, Hancock Mining and Fortescue Metals Group.
ENDS
Released by:
Nicholas Read / Kate Bell
Read Corporate
Telephone: (+61-8) 9388 1474
Competent Person?s Statement
The information in this report that relates to Mineral Resources is based on information compiled by Mr M Nimmo and Mr A Zhang. Mr M Nimmo, who is a Member of the Australasian Institute of Geoscientists and a full-time employee of Snowden Mining Industry Consultants Pty Ltd produced the Mineral Resource estimate based on the data and geological interpretations provided by Brockman. Mr Nimmo has sufficient experience that is relevant to the style of mineralisation, type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the ?Australasian Code for Reporting of Exploration,
Results, Mineral Resource and Ore Reserves. Mr Nimmo consents to the inclusion in this report of the matters based on his information in
the form and context that the information appears.
Mr A Zhang, who is a Member of the Australasian Institute of Mining and Metallurgy and a full-time employee of Brockman Resources Ltd provided the geological interpretations and the drillhole data used for the Mineral Resource estimation. Mr Zhang has sufficient experience that is relevant to the style of mineralisation, type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the ?Australasian Code for Reporting of Exploration, Results, Mineral Resource and Ore Reserves. Mr Zhang consents to the inclusion in this report of the matters based on his information in the form and context that the information appears.
READ CORPORATE
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