The West Australian reported that Moly Mines will look to expand production at its Spinifex Ridge iron ore project after securing access to the new Utah Point multi user export facility at Port Hedland to September 2015.

The company said the agreement with the Port Hedland Port Authority would underwrite significant future iron ore cash flows that were assisting in financing for its larger Spinifex Ridge molybdenum / copper project.

Moly said in a statement that “Scoping studies are underway to determine an optimal expanded iron ore mining and production rate. Longer term access to port was a critical first step in these studies.”

The company said it had begun assessing the levels of approvals required to support the possible infrastructure network required for an expanded production base.

(Source from The West Australian)