Atlas, Brockman could lose WA port

Two miners pressured by WA govt to develop port allocation.

Atlas Iron (AGO) and Brockman Mining (BRM) risk losing their port allocation at Port Hedland if they fail to meet infrastructure development goals set by the Western Australia government, according to The Australian Financial Review.

The state's premier, Colin Barnett, has targeted the miners' two berths, saying a timeline for their development is being negotiated by the state and the Port Hedland Port Authority.

“This will require a series of development milestones – once finalised – to be met in order to maintain the capacity allocation,” Mr Barnett said in a statement to the AFR.

Other miners have become increasingly interested in the miners' berths, which come with a 50 million tonne annual quota.

The Atlas and Brockman joint venture, North West Infrastructure, still hopes to develop the two berths, but requires an agreement with rail infrastructure providers, which could drag on beyond any timeline insisted on by the state and Port Hedland, the AFR added.

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles