Hawsons Iron Ltd signs binding agreement with Flinders Ports Pty Ltd

Hawsons Iron Ltd (ASX: HIO) announced that it had entered into a legally binding Agreement with Flinders Ports Pty Ltd to cooperate in developing and operating a greenfield port at Myponie Point Port on South Australia’s eastern Spencer Gulf.

This agreement formalizes the terms of an earlier non-binding MoU. It has been expanded to include evaluating lower tonnage options using existing rail and port infrastructure, possibly scaling production and export options, and reducing capital costs over time. Under the terms of the contract, Flinders Ports would build, own and run the proposed Myponie Point Port  with reducing the Hawsons Iron Project’s capital requirements, while allowing the company to contribute in future growth as the port’s ‘cornerstone’ customer.

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