The agreement with the Ngarluma people covers 4300 hectares of coastal land 30km east of Karratha, which is planned for a multi-user deepwater port with an ultimate capacity of at least 350 million tonnes per annum.
Once fully operational, the facility will include an industrial area near Karratha in the Shire of Roebourne and will surpass total shipments out of Port Hedland in 2012-13 by more than 20%.
During his visit to the Pilbara region, Premier and Development Minister Colin Barnett met representatives of the Ngarluma community to sign the agreement at the project site.
"This is a significant project that will unlock the potential of the West Pilbara by allowing small and mid-sized iron ore companies and potentially producers of the other commodities to gain access to valuable port space," he said.
"This native title agreement provides further certainty tot a potential port builder and future users, and is imperative in ensuring that this site can be developed quickly as required."
The news follows approval last year by the state government and federal environmental authorities for a project including a 15km shipping channel, a 3km approach jetty causeway, a 1.1km jetty and associated shore-based infrastructure including stockyards, accommodation camps, power plant and road and rail links.
When the WA government formally chose Anketell Point as the location for the state's next greenfields port development in March 2010, it envisaged that the port would be up and running by 2015.
However, the stalling of API Management's West Pilbara iron ore project - which is planning to use the port - precipitated delays, with the joint venture's partners unable to reach agreement on the project budget.
API is a 50:50 JV between Aquila Steel and American Metals and Coal International (AMCI), with the objective of developing a long-term iron ore export operation in the Pilbara.
It controls iron ore rights to a portfolio including some 8000sq.km in the region, over four primary project areas.
The native title agreement involves a settlement package of $A20 million to be paid over nine years.
This will include a combination of payments by the Department of Lands to the Ngarluma Aboriginal Corporation and a trust structure for the benefit of the Ngraluma people.
A heritage survey is currently underway at Anketell to identify culturally significant sites and help shape the future development of the project.
"I congratulate the Ngarluma people for the commitment they have demonstrated throughout the negotiation process and I look forward to building on our strong relationship as this agreement progresses," Barnett said.
"This agreement was approved unanimously by the traditional owners and offers an opportunity for the Ngarluma people to continue their journey towards a sustainable and independent future."
In 2013, iron ore exports from the Pilbara totalled 527Mt and are forecast to reach more than 800Mt by 2020.