Polaris sign agreement with Freo Ports

West Perth-based Polaris Metals NL Has signed a memorandum of understanding with the Fremantle Ports that will focus on finalising the best option to export ore from its Yilgarn iron ore project at the bulk berths at Kwinana.

Both parties have agreed to work together to identify the preferred berth option and to negotiate cargo handling and an export facilities agreement if Kwinana is selected as the preferred port option.

It has also been agreed to fast track purchase or construction, where appropriate, of any long lead time items necessary for the preferred berth.

Meanwhile, Polaris has agreed to take an option over eight hectares of LandCorp ground adjacent to the proposed new Berth 5 at the Kwinana Bulk Jetty to secure sufficient stockpile and storage space to suit the proposed iron ore export requirements.

Polaris expects to start mining stage one in 2010 and plans to export up to 10 million tonnes per annum.