Aquila Dedicated to Develop Iron Ore Exporting Port

AquilaAquila Resources Ltd has proclaimed that it is planning to develop a new port for iron ore export in Western Australia, despite the pause in its partner Fortescue Metals Group Ltd’s associated project.

Fortescue, Aquila and the Metallurgical Corporation of China Ltd had proposed a joint conceptual plan to the WA Government for a collaborative development of the -billion-dollar port at Anketell point in the state's Pilbara region.

The proposed development will enable the three partners to export iron ore from their respective projects, without being dependant on iron ore from their respective projects to provide them an access to Cape Lambert.

Aquila expects the new port to endorse its West Pilbara iron ore project.

Fortescue is looking forward to the transportation of iron ore from its Solomon project, which it had to stop due to the lack of support. It accused the Federal Government's planned new mining tax of being responsible for this.

Aquila General Manager of iron ore, Russell Tipper, said that the Companies will pursue the project alone if Fortescue decides not to participate.

"We've been working on that port for the past three years ... we've done all of our analysis on the basis that we may be the only party that is there”, he said.