Port and rail operator Asciano Group (AIO.AU) said Friday it has won a tender expected to be worth A$400 million over 10 years to haul ore from a copper mine owned by Xstrata PLC (XTA.LN) in Queensland state.

Asciano said in a statement it will enter into take or pay contracts with Xstrata Copper to haul at least 1.2 million tons of magnetite from its Ernest Henry Mine from February 2011.

The company expects to spend around A$80 million on two narrow gauge diesel train sets and the potential construction of a loading facility and rail infrastructure at the north-west Queensland town of Cloncurry.

-By Bill Lindsay, Dow Jones Newswires; 61-2-8272-4694; bill.lindsay@dowjones.com
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