Murchison Metals (MMX)

Shares / Stock Code

MMX

Stock Exchange / Sharemarket

ax

Murchison Metals (MMX) is a mineral exploration and mining Company with a core focus on iron ore exploration in Western Australia. The Company supplies premium quality iron ore to the global markets. Murchison Metals is a part of the S&P/ASX 200 Index and it listed on the Australian Stock Exchange on 1st April, 2005. MMX has a 50% shareholding in Crosslands Resources Ltd, the owner of the Jack Hills iron ore project, with the rest 50% of Crosslands owned by Mitsubishi Development Pty Ltd. Mitsubishi is a controlled entity of Japan's largest general trading company Mitsubishi Corporation. Jack Hills contains high grade iron ore deposit and it is based in the mid-west region of Western Australia. Murchison is undertaking exploration activities at the Jack Hills Project.Mitsubishi acquired a 50% interest in Crosslands Resources Ltd following the transaction made by Murchison on September 27, 2007. Murchison also holds a 50% economic interest in Oakajee Port and Rail (OP+R) which is a new independent infrastructure business, with the remaining 50% economic interest owned by Mitsubishi. OP+R is seeking to obtain the right for the construction of new port and rail infrastructure in order to service miners including Crosslands and other prospective clients in the mid-west region of WA. The Company intends to create shareholder value by undertaking mining operations and by exporting the world class iron ore to offshore markets. Murchison has a highly skilled and experienced team of management focused on making Crosslands and OP+R, respectively, a major iron ore producer and a key infrastructure business.

Murchison Metals History

Murchison Metals made its debut on the ASX on April 1, 2005. On 20, October 2005, the Company was granted with Jack Hills Mining Lease. On 14 November 2005, MMX formed a strategic alliance with POSCO. The Company commenced mining operations at Jack Hills on 21 September 2006, with its first ore shipped on February 1, 2007. Murchison was included in the ASX Top 200 on 31 July 2007. It entered into a Joint Venture Agreement with Mitsubishi on 19 September 2007. The total production of the Company as at 26 December 2007 reached up to 1 million tones. MMX completed the purchase of Rocklea on 8 April 2008. The Company’s resource was upgraded on 27 May 2008, with OP & R winning the bid for port on 29 July 2008. As at 26 September 2008, the Company’s production reached up to 2 million tones.