Fortescue open to joint port venture with Aquila
After a bumper season that saw the company post a record quarterly export figure, iron ore mining giant Fortescue Metals Group’s CEO Neville Power has announced the company is open to the possibility of a joint construction venture to develop the Anketell Point port in the Pilbara region.
Construction of the port would service the region’s small and medium-tier iron ore miners, providing an alternative to the region’s other ports which are dominated by BHP Billiton and Rio Tinto.
Despite the two companies submitting rival tenders for the Anketell Point development, Mr Power has announced that the company was open to a joint venture.
"We're happy to be lead proponent but we're also happy for somebody else to be lead proponent or in fact to do it in JV (joint venture) or some other type of structure provided that the development for the port is done in such a way in that it's cost effective," he said.