The Western Australian State Government has identified Anketell, near Karratha and 10km from Cape Lambert, as the next major deepwater iron ore port for the Pilbara.
The multi-user deepwater port and industrial precinct will complement Port Hedland and Dampier ports.
Western Australia's Premier Colin Barnett said that the Government would spend US$3.15 million during the next three years to plan and prepare an Industrial Precinct Development Agreement for the project including commercial, legal and engineering advice to negotiate the agreement.
"Anketell was first identified during the 1970s as a potential iron ore port. Now, 40 years later, the government is helping make this project happen," Mr Barnett said.
"The port will be serviced by existing towns, especially nearby Karratha, providing further business and development opportunities for Pilbara communities.
"This project will help Western Australia develop and the revenue it will generate will help pay for our schools, hospitals and other services."
The precinct, which would ultimately include a port with more than 350 million tonnes annual (Mtpa) export capacity, an industrial area of more than 1,400ha and a corridor for transport and services, would be developed to accommodate a range of users and different mineral commodities.
The port would have a cap placed on it in future to ensure the viability of existing ports.
The multi-user port will be built by a private proponent under an agreement with the state hovernment.
Three significant iron ore projects are potential foundation investors in the new precinct:
"The government will work with these companies, or an infrastructure provider to develop the project, with plans to commence operations by 2015," Mr Barnett said.
He added that the announcement joined a list of government projects aimed at developing the north of the state, including the development of a LNG processing precinct at James Price Point.
"The strength of WA's iron ore exports and the growth plans of current users are testing the capacity of the existing Pilbara ports. In 2008-09 the Pilbara exported more than 326 million tonnes of bulk commodities, mainly iron ore.
"This is forecast to reach more than 530 Mtpa by 2015 and as much as 750 Mtpa by 2020.
"The Anketell port and industrial precinct will provide opportunities for new exports and processing of iron ore and other minerals."
The Department of State Development would lead negotiations on behalf of the government, Dampier Port Authority would manage the new port and infrastructure corridors and LandCorp would develop the industrial precinct.
