China Finances Project to Link Mines in Western Australia

Public infrastructure company Yilgarn Infrastructure has signed an investment agreement with five Chinese companies to develop a massive rail network to serve mines in Western Australia.

The Oakajee Port and Rail Project is an independently owned and operated port and railway system designed to service all the region's commercial mines.

Yilgarn aims to provide links to iron ore mines seeking to expand operations and to ensure potential new mines have open access to vital infrastructure at lower costs.

The project is a complex development which recently completed engineering pre-feasibility studies and is awaiting the next stage of studies.

"This agreement provides significant opportunities for Western Australian companies to form partnerships in key roles for this project and to take advantage of China's demand for our products and the need for local expertise", says Yilgarn CEO Dr John Saunders.

The five companies - who own combined assets of more than $50bn and revenues of more than $60bn - includes some of China's biggest enterprises in port and railway construction, iron-ore trading and steel production.

Reported by Ozge Ibrahim