Dec. 10. 2015
Roy Hill Holdings Pty Ltd (“RHH”), an Australian company jointly owned by Marubeni Corporation (“Marubeni”), Hancock Prospecting Pty Ltd, POSCO, and China Steel Corporation, has completed loading its first product ore from its Roy Hill iron ore project (“Project”) on board the MV Anangel Explorer and achieved the first shipment sailing from its dedicated berth at Port Hedland on 10 December.
Since 2013, RHH has developed its iron ore mine, railway and port facility with funding from shareholders and project finance of USD 7.2 billion comprised of loans and guarantees from Export Credit Agencies including Japan Bank for International Cooperation and Nippon Export and Investment Insuarance and a consortium of commercial banks. RHH will now focus on ramping up to full production as early as possible and achieve efficient and stable operation.
The Project is developing a world-class, low-cost, and fully integrated open pit mine, accompanied by rail and port facilities and will deliver 55 Mtpa of low phosphorus high quality iron ore fines and lump products to the global seaborne iron ore market. The expected high grade iron ore products from this mine are much anticipated from steel mills in Asia including those in Japan. Marubeni will continue to support RHH with our partners for its stable iron ore supply, and contribute to steel industries in Japan and Asia.