Business
Macarthur Minerals - Arc Track Access Agreement
Macarthur Minerals - Arc Track Access Agreement.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \n \n RNS Number : 1214T\n Cadence Minerals PLC\n 15 July 2020\n \n \n \n \n Cadence Minerals Plc\n \n \n (\"Cadence Minerals\", \"Cadence\" or \"the Company\")\n \n \n \n \n \n Macarthur Minerals (TSX-V: MMS) Lake Giles Iron Project a step closer with Arc Infrastructure's Proposal for Development of a Commercial Track Access Agreement.\n \n \n \n \n \n Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (\"Macarthur\") has received a Proposal that provides an agreed pathway to develop a Commercial Track Access Agreement (\"Proposal\") from Arc Infrastructure (\"Arc\") for below rail capacity from its Lake Giles Iron Project in the Yilgarn Region of south-western Western Australia to the Port of Esperance.\n \n \n \n \n \n Macarthur and Arc have worked collaboratively on the development of Arc's Proposal, which is a material step forward in bringing Macarthur closer to securing a fully contracted route to market. The Proposal will provide sufficient certainty to support Macarthur's Feasibility Study for its Lake Giles Iron Project, as outlined in the Preliminary Economic Assessment Report which was prepared and released in June 2019.\n \n \n \n \n \n Under the Proposal, the parties have agreed to work together in good faith to negotiate and agree the terms of a Commercial Track Access Agreement (\"CTAA\") under which Arc would provide sufficient capacity on its Network to support the Macarthur task. The Proposal also includes indicative track access pricing based on an agreed set of operational parameters that would be incorporated into the CTAA.\n \n \n \n \n \n The successful development of the Lake Giles Iron Project and the export of its high grade magnetite through the Port of Esperance is fully supported by the Western Australian Branch of the Australian Rail, Tram and Bus Union (RTBU) and the Western Australian Branch of the Maritime Union of Australia (MUA). \n \n \n \n \n \n In addition, the Company is continuing to progress discussions:\n \n \n · \n to secure an above rail haulage agreement;\n \n \n · \n to finalise arrangements for the design, development and funding of unloading infrastructure that will avoid current unloading infrastructure constraints at the Port of Esperance;\n \n \n · \n to secure right...