News Analysis: A Memorandum Of Understanding (MOU) has been signed by Japanese Business Interests and the Queensland Government. Acquisition of Tungsten Concentrate, from a large mining operation north of Cairns, Australia, is sought for High-Speed Rail in Japan. Already, personnel are being hired in anticipation of commencing production for the Japanese.
6000 tons of Tungsten Concentrate a year is anticipated to be produced; at a cost of $270 Million Dollars a Year. This will help boost the economies of Cooktown, Cairns, Townsville, and beyond.
The Japanese will benefit by having the ore to produce the raw metal for both Rail Rolling Stock and Tooling from a good business partner.
Queensland has been supplying the Japanese with various ores for half a century. This ‘MOU’
will continue the relationship. It also covers oil and gas, as well as other ores beyond Tungsten Concentrate. It will be a “Win-Win” Series of Commercial Transactions between the Australians and the Japanese.
Reference: http://tinyurl.com/n95pxou