23/09/2011 09:06:00
The Western Australian premier has ruled out extending the deadline for Murchison Metals Limited (ASX:MMX) and Mitsubishi.
The December 31 deadline looms, as the miner tries to convince the state government of the viability of the Oakajee project. That’s according to a report by The Australian.
Premier Colin Barnett said the joint venture will lose its exclusive rights to the port and rail project, worth almost $6 billion, unless it meets government requirements by the end of the year.
Murchison reported a full year net loss of $16.5 million to June 30, 2011.