OWNERSHIP
Crosslands Resources Ltd is jointly owned (50/50) by Murchison Metals Ltd – which is included in the S&P/ASX 200 Index – and Mitsubishi Development Pty Ltd, a subsidiary of Mitsubishi Corporation, Japan’s largest general trading company.
Prior to Mitsubishi acquiring its interest in September 2007, Crosslands was a wholly-owned subsidiary of Murchison Metals.
Murchison Metals Ltd is a Perth based, Australian ASX-listed company, which aims to create shareholder wealth through mining high quality iron ore and exporting it to world markets. Murchison Metals has pledged its commitment to supporting Crosslands in securing our place as a leading iron ore producer.Murchison Metals Ltd is currently exploring new business opportunities and predicts the financial year ahead will be its most exciting to date.
Mitsubishi Development Pty Ltd is a subsidiary of Mitsubishi Corporation, Japan’s largest general trading company, with over 200 bases of operations in 80 countries. Mitsubishi has stamped its name globally, in almost every industry imaginable – from mining and machinery to food and textiles. Mitsubishi employs a multinational workforce of approximately 54,000 people. With a current market capitalisation of approximately US$40 billion, Mitsubishi’s backing of the Jack Hills project has Crosslands on track to successfully meet expansion targets, and deliver substantial benefits to the mid-west community.
Oakajee Port and Rail (OPR) will construct the multi-billion dollar deepwater port at Oakajee, 25kms north of Geraldton, serviced by a new rail network. On completion, the new integrated shipping gateway and rail corridor will transport iron ore from Western Australia's mid-west to customers around the globe. This major new infrastructure development will generate hundreds of jobs during the construction phase, underpin the growth of the local iron ore industry and help unlock the value of Western Austrlia's mid-west. OPR is an exciting new company, committed to building a world-class infrastructure business in partnership with the community.
Crosslands, Murchison Metals Ltd and Mitsubishi Development Pty Ltd all hold economic interests in the OPR project, although the business has been established to operate independently on a commercial basis, providing open access to all port and rail users. Comprehensive feasibility studies addressing all aspects of the OPR development are well underway. These include thorough examination of environmental, Aboriginal heritage and financial issues. Click here to upload current Project Update, April 2010.
