BC Iron Agrees On Rail, Port Access With Fortescue Metals

Iron ore junior BC Iron Ltd. (BCI.AU) said Thursday it struck an agreement with Fortescue Metals Group Ltd. (FMG.AU) for rail haulage and port services in the Pilbara region of Western Australia.

Fortescue has agreed to transport 3 million tons of ore a year initially, rising to 5 million tons when port and rail facilities are expanded.

"We are pleased that FMG and BC Iron were able to follow on from the intent of the memorandum of understanding signed in 2007," BC Iron managing director Mike Young said.

Fortescue has been running a lengthy legal campaign seeking access to the Pilbara railway lines of iron ore heavyweights BHP Billiton Ltd. (BHP.AU) and Rio Tinto Ltd. (RTP) and has said it will open its own infrastructure to third parties where it has spare capacity.

-By Alex Wilson, Dow Jones Newswires; 61-3-9292-2094; alex.wilson@dowjones.com

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