The MOU announced today with the Pilbara Port Authority indicates this will not be a "private" port but a State port run by the Dampier Port Authority.
So what's the State doing here that nobody knows about?
Today this area has nothing to do with the port authority so why an MoU with the port authority?
The only way for IOH to develop a port with the port authority's involvement is for the area to be resumed for a public work and reserved by the State for a port and if the port authority is involved as per the MoU vest the reserve to the port authority.
Something quite new and big must be happening here.
IOH Price at posting:
81.0¢ Sentiment: Buy Disclosure: Held