Australian iron ore exploration company Murchison Metals Ltd (Murchison) announced on January 27 that its iron ore output volume in the fourth quarter of 2011 amounted to 371,423 tonnes, a slight decrease from 395,279 tonnes mined in the previous quarter.

Murchison
1. Agreement reached to sell Murchison’s interests in Crosslands and OPR to Mitsubishi for USD 325 million
2. Agreement received with Chameleon Mining to settle litigation
3. Foreign Investment Review Board approval of Mitsubishi Transaction obtained
4. General Meeting of Shareholders to approve Mitsubishi Transaction scheduled for February 13th2012

Crosslands Resources Ltd (Murchison 50% Interest)
1. Jack Hills Expansion Project approved by WA Minister for Environment
2. 481,072 tonnes of direct shipping lump and fines shipped during quarter
3. Stage 1 mining operations completed according to five year mine plan
4. Final Stage 1 shipments forecast to occur in February

Oakajee Port and Rail (Murchison 50% Interest)
1. Amended Oakajee State Development Agreement to continue