Oakajee rail plan wins federal nod
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The rail component of the $5.2 billion Oakajee port and rail development has received federal environmental approval.
The Commonwealth Department of Sustainability, Environment, Water Population and Communities gave its nod to the rail development today, Oakajee joint venture participant Murchison Metals said in a statement to the Australian Securities Exchange.
"SEWPaC's determination represents a significant step in the approvals process for the Oakajee infrastructure project, with a determination on Commonwealth approval for the project's port terrestrial development anticipated for later this year" Murchison's statement said.
The project has received a recommendation for approvals from the Environmental Protection Authority of Western Australia for both the port and rail developments.
Murchison said it expected formal approval from state Environment Minister Bill Marmion in the September quarter.
Murchison owns 50 per cent in the Oakajee project with Japanese joint venture partner Mitsubishi.
The joint venture is seeking to develop port and rail infrastructure to service the Jack Hills iron ore mine, which it is developing in a 50:50 joint venture with Crossland Resources.
Murchison's stock dropped 4.3 per cent today, to finish trading at 66 cents.