FMG cooperates with Aquila for port facilities

FMG and Aquila Resources have signed a Cooperation Agreement assenting to share port facilities at Anketell Point.

Fortescue Metals Group and Aquila Resources have signed a Cooperation Agreement assenting to share port facilities at Anketell Point, Fortescue said in a statement to the Australian Securities Exchange.

Under the Agreement, all parties will be able to exchange information in a bid to lower capital and operating costs.

The facilities would be available for use by other companies in the west and central Pilbara that are currently unable to develop iron ore projects due to a lack of suitable infrastructure.

According to the statement, Anketell Point is the designated port site within the Definitive Feasibility Study (DFS) being undertaken for the West Pilbara Iron Ore Project to develop an export iron ore operation based on a current resource base of 650 million tonnes, with the potential for significant growth in that base.

“The opportunity remains for other developers in the region to participate in the consideration of the joint development of the Anketell Port point facilities,” the statement said.

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