Polaris signs with Toll

Toll Holdings Ltd has made an exclusive deal with Polaris Metals NL on service agreements for ore haulage, port and ship loading services for the company’s Poondano and Yilgarn iron ore projects in Western Australia.

Polaris signed a deal with Toll for its Singapore-based marine logistics arm, Sembawang Kimtrans Ltd (SKL), and other Toll operations to work towards finalising service agreements.

Polaris said the proposed deal was expected to result in substantial up-front capital costs savings for Polaris and accelerated receipt of export income as a result of Toll’s SKL providing flexibility during the ramp up to full production.

Toll is one of the Asian region’s leading providers of integrated logistics services, generating consolidated revenues of $7.5 billion.

Polaris holds iron ore tenements spanning more than 4,700 square kilometres across Western Australia’s premier iron ore regions of the Pilbara and the Yilgarn.

Source: Industry Search

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