Iron ore producer Fortescue Metals Group is studying building another port in the Pilbara with Aquila Resources.
The companies might share the cost of building a port at Anketell Point and would examine whether a joint operation would reduce costs, Perth-based Aquila said today in a statement.
They would also look at giving other groups access, Aquila said.
Anketell Point has potential to accommodate a port with capacity to ship 350 million metric tons of iron a year, Aquila said.
Fortescue, which ships ore from Port Hedland, may use Anketell to ship ore from its Solomon project, Aquila said.
Aquila had previously announced plans to develop the $4.1 billion West Pilbara mine, port and rail project.
Aquila fell 37 cents, or 6.57 per cent, to $5.26 at 9am.
Fortescue dropped 27 cents, or 6.63 per cent, to $3.80.
BLOOMBERG MELBOURNE
