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Moly Mines awards iron ore contract mining to BGC

Published: 19:17 20 Aug 2010 BST

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Iron ore and molybdenum developer Moly Mines (TSX/ASX:MOL) has awarded an iron ore mining contract to Australia`s BGC Contracting for a 1 million tonne per annum direct shipping operations.  BGC will mobile to Moly Mines Spinifex Ridge Iron Ore Project in September with mining due to commence in October.


The iron ore mining contract award follows on from last week`s announcement that Perth based Rapid Crushing and Screening had been awarded the contract to build a 1.3 million tonnes per annum crushing and screening circuit.


The Toronto and Sydney listed company is currently building two mines at Spinifex Ridge, an open pit iron ore operation due to commence in the fourth quarter and a significantly larger molybdenum mine. Spinifex Ridge is located 170km east of Port Hedland, Western Australia.


Moly Mines gained China based Sichuan Hanlong Group as the company’s controlling shareholder in April following the settlement of the US$200 million equity and debt funding package, which gave Hanlong a 55% equity stake in the company.

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