Asciano Group: Selected Preferred Operator For Xstrata Copper
December 17 2009 - 7:16PM
Dow Jones News
Port and rail operator Asciano Group (AIO.AU) said Friday it has
won a tender expected to be worth A$400 million over 10 years to
haul ore from a copper mine owned by Xstrata PLC (XTA.LN) in
Queensland state.
Asciano said in a statement it will enter into take or pay
contracts with Xstrata Copper to haul at least 1.2 million tons of
magnetite from its Ernest Henry Mine from February 2011.
The company expects to spend around A$80 million on two narrow
gauge diesel train sets and the potential construction of a loading
facility and rail infrastructure at the north-west Queensland town
of Cloncurry.
-By Bill Lindsay, Dow Jones Newswires; 61-2-8272-4694;
bill.lindsay@dowjones.com
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