Alien Metals Limited has signed a conditional, non-binding Memorandum of Understanding (MoU) with Pilbara Ports Authority to access its Utah Bulk Handling Facility (Utah Point) in Port Hedland. This MoU is an important step towards securing formal commitment from Pilbara Ports to export iron ore produced by Alien Metals' Hancock iron ore Project. Pilbara Ports is the operator of the Port of Port Hedland, the largest bulk export port in the world, located in the Pilbara Region of Western Australia.
Under the MoU, Alien Metals' subsidiary, Iron Ore Company of Australia Pty Ltd (IOCA), will have access to the common-use stockpiles at Utah Point and will be able to export up to 1.25 million tonnes per annum (mtpa) of iron ore starting from the fourth quarter of 2024. This agreement is subject to regulatory approvals.
IOCA has also made progress in the next step of the process, as Pilbara Ports and IOCA have substantially agreed on the terms of the binding agreement for iron ore export through Utah Point. However, this agreement is still subject to the typical regulatory approvals.
This MoU and potential binding agreement with Pilbara Ports Authority will enable Alien Metals to export its iron ore production from the Hancock iron ore Project, contributing to the company's growth and development in the minerals exploration and development sector.