Cadence Minerals PLC - investment firm and partner in the discovery & development of iron ore and lithium deposits - Notes Macarthur Minerals signs memorandum of understanding with Southern Ports Authority which provides a pathway for agreeing a potential access and operating solution for the export of Macarthur's high grade magnetite iron ore product via the Port of Esperance.
The Port of Esperance is an established deep water port located south of Macarthur's Lake Giles iron project in Australia.
"The MoU with Southern Ports Authority represents a substantial step towards Macarthur securing eventual access to the Port of Esperance and completing a fully contracted route to market for the Lake Giles iron project," says Macarthur Minerals Chief Executive Andrew Bruton.
Cadence holds around a 1% stake in Macarthur, an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia.
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By Lucy Heming;Â lucyheming@alliancenews.com
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Cadence Mineral (KDNC)