Koolyanobbing on right track

THE first train load of iron ore from Mineral Resources’ Koolyanobbing mine has hit the tracks on route to Esperance port less than three months since the project was picked up.

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Koolyanobbing train hits the tracks

The mine is north of Southern Cross, in Western Australia's Yilgarn region.
Laden on a 106-wagon train, the 7488 tonnes of iron ore fine will be stockpiled at the port in Esperance ahead of the first shipment, which is expected to set sail within the next four weeks.
The company has been able to ramp-up production at Koolyanobbing to its targeted nameplate capacity in less than three months due to the generous subsidies and fee-waivers gifted by the Government of Western Australia in the deal to buy the struggling mine from former owner Cliffs Natural Resources, which included a waiver of royalty payments worth around $150 million and a royalty rebate of $5 million.
The state also let Cliffs off the hook for $50.2 million in early termination payments, which will let C...