Genesee & Wyoming Signs New Contract for Export Iron Ore in South Australia; to Invest US$72M (GWR)

Genesee & Wyoming GWR announced today that its subsidiary, Genesee & Wyoming Australia has signed a rail haulage agreement with a subsidiary of WPG Resources to transport 3.3 million tons per year of hematite iron ore from WPG's Peculiar Knob mine in South Australia. GWA plans to operate unit trains of iron ore from a rail siding near Wirrida, South Australia, located on the recently acquired Tarcoola to Darwin rail line, to a new bulk export facility in Port Pirie, South Australia. The haulage service is expected to start in the second quarter of 2012 and continue for a minimum of five years, and it may be extended depending on the development of certain nearby iron ore deposits.