Aquila project approval streamlined

Aquila Resources has seen its West Pilbara iron ore project granted major project status by the Federal Government.

Aquila Resources has seen its West Pilbara iron ore project granted major project status by the Federal Government.

The approval process will be streamlined for the $4 billon project, which will include a 275 km rail line and a new deep water port at Karratha.

This comes on the back of Aquila entering a trading halt, with the miner predicted to announce Valé exercising an option to increase its stake in Queensland based Belvedere coal project.

The Brazilian miner confirmed that it had acquired AMCI’s stake in the coal project, but has yet to comment on whether it will also bid for Aquila’s stake.

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