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MURCHISON Metals Ltd has dismissed media reports that joint venture partner Mitsubishi Development Pty Ltd wants to pull out of building the $4 billion Oakajee iron ore port in Western Australia's Midwest.

Murchison and Mitsubishi are equal joint venture partners in Oakajee Port & Rail, which is developing a deepwater port north of Geraldton to overcome congestion at Geraldton Port.

Murchison says it is not considering any ``fundamental changes'' to the joint venture agreements and that financing will not be affected by changes to the development timeline.

``Murchison believes that the current ownership structure is an appropriate structure for delivering the infrastructure projects,'' the company said in a statement today.