TT CLUB - Western Australia government to invest in Oakajee port development project
Murchison Metals CEO Mr Paul Kopejtka said, "The unswerving government support for Oakajee underlines the importance attached to this project by his Government and the enormous benefits that will flow to all stakeholders from unlocking the region's vast mineral riches. We look forward to continuing to work closely with the WA Government to deliver this important project."
Mitsubishi Development and Murchison Metals each have a 50% stake in Oakajee Port & Rail (OPR) which is the developer of the mid-west rail infrastructure and port project to serve the fast-growing iron-sector of the region. The two companies also own 50% each of Crosslands Resources, which in turn owns the Jack Hills iron ore project in the mid-west of Western Australia. Stage 1 of the Jack Hills project annually produces up to 1.8 million tonnes high grade iron ore.
Intelligence reporting by Global Intelligence Alliance.
In collaboration with UK P&I Club, TT Club has developed a new StopLoss publication which considers the risk exposures associated with the transport of temperature controlled cargo through the global supply chain and provides guidance as to how to avoid losses.
2017 was a good year for the Club. The underwriting surplus of $29 million was the largest in recent years. This, when coupled with a strong investment return of over $43 million, delivered a total surplus of $72 million. After adjusting for forward currency contracts, the Free Reserves at 20 February 2018 increased by $82 million to $540 million.
