Padbury Mining said that it has completed the AUD 2.25 million purchase of intellectual property for rail and port infrastructure to service the mines of Western Australia’s Mid West region.

The transaction for IP developed by Yilgarn Infrastructure Ltd for building an open access, multi user rail network was finalized following approval from Padbury shareholders at a general meeting on June 13th 2011. The IP will be vested in a wholly owned Padbury subsidiary Midwest Infrastructure Pty Ltd.

The Mid West region has recently grown in stature as a significant iron ore province. The provision of rail and port infrastructure is of great importance to the development of the Mid West mining industry.

Mr Gary Stokes MD of Padbury said that “The purchase of the IP gives us a viable option to move forward, with the capacity to contribute to an infrastructure solution for the entire Mid West should the current infrastructure proponent be unable to proceed with its proposal in its current form.”

He added that “The data includes detailed engineering studies, project definition documents, financial modeling, Chinese investment agreements, financing term sheets and associated legal documents and, crucially, a viable low cost service based commercial model for the carriage of ore from the various proposed mining operations to Oakajee."

Padbury said it is bullish it can help facilitate a win win outcome for its own Peak Hill project as well as other Mid West mines by working with others in the region.

Located about 450 kilometres north east of Geraldton, Peak Hill is in the same mineralized region as other major Mid West iron ore projects such as Weld Range, Jack Hills and Mt Gould.

(Sourced from www.proactiveinvestors.com.au)