Iron ore boosts Cape Preston prospects

摘要

The possibility of another new Western Australian iron ore port at Cape Preston, south of Dampier, has firmed sharply after Aquila Resources released a strong pre-feasibility study for its West Pilbara Iron Ore project, about 150km from the coast. Australian Premium Iron, a joint venture between Aquila and American Metals and Coal Industries (AMCI) is developing the 25 mtpa Red Hill and associated prospects at a projected cost of A$3.9B, with the study finding production costs would be around A$20 a metric tonne. Following approvals the company intends to construct a 160km railway to a new deepwater port facility at Cape Preston, subject to commercial agreements with other parties.