Built on exploration & innovation.
It’s due to the hard work and perseverance of our Executive Chairman Mrs Gina Rinehart along with the support of Roy Hill’s equity and finance partners and dedication of the broader staffing group that has enabled this mega-project to be transformed from a vision into reality in record time.
Mr Hancock established Hancock Prospecting Pty Ltd (HPPL).
1960 – 1961
After approximately eight years of lobbying by Mr Lang Hancock, the federal export embargo for iron ore was lifted. His discoveries of iron ore deposits in the Pilbara resulted in ten major mines being developed. After more than a year of extensive lobbying by Mr Lang Hancock, the Western Australian government lifted its pegging ban on iron ore prospects and titles became more possible for exploration and investment.
Mrs Gina Rinehart assumed Chairmanship following the passing of her father, Mr Hancock. Later in 1992, Mrs Rinehart together with Chief Geologist, Richard Paquay, conducted their initial prospecting trip to Roy Hill.
Exploration licences, 46/334, 46/335 and 46/336, were granted to HPPL.
1993 – 2010
Exploration drilling and pre-feasibility studies were undertaken with HPPL finding the ore bodies in the tenements that other experienced miners had dropped. The Pre-Feasibility Study and Bankable Feasibility Study demonstrated that Roy Hill was robust.
HPPL welcomed the investment by POSCO Group and STX into the Project. Through this initially small transaction, funding for the early dredging works in the Port Hedland harbour and further studies were secured.
Equity agreements were finalised with POSCO, Marubeni Corporation and STX Corporation, who between them acquired 30 per cent equity interest in Roy Hill worth $3.2 billion. POSCO later reduced its share to enable another steel mill, China Steel Corporation, to acquire an equity stake. Later in 2012, Marubeni Corporation increased its stake through the acquisition of STX Corporation’s holding.
Roy Hill employees moved into their new headquarters, the Award winning Remote Operations Centre (ROC) at the Perth airport.
A US$7.2 billion financing package was secured for the Roy Hill Project, with five Export Credit Agencies and 19 major international and Australian banks.
Mining commenced at Roy Hill through a mining contractor.
Roy Hill commenced owner/operator mining in Delta 2 Pit. This milestone was the realisation of Mrs Rinehart being able to fulfil the duties she took on as Chairman to deliver on the vision for HPPL to own and operate its own mine.
The first train load of high-grade fine ore railed to Port Hedland on 22 November 2015 (National Mining and Related Industries Day).
The first shipment of iron ore delivered to POSCO’s steel mills in South Korea on 15 December 2015.
Handover of Mine, Port and Rail infrastructure from Samsung.
One million tonnes shipped since commencement.
1,000th train and 30 million tonnes delivered to Port Hedland from the Roy Hill Mine – achieving the fastest time for an iron ore mine in Western Australia.
Roy Hill successfully completes ramp up to full production of 55Mtpa.
Lenders completion milestone is achieved for Roy Hill. Government approval received to increase production to 60Mtpa.
WHIMs plant approved and construction commenced, improving plants yield and assisting to achieve a 60mpta run rate.
Roy Hill pays off debt ahead of schedule and pays first dividends to equity partners.
Roy Hill receives approval for 70mtpa.
“In Marubeni, POSCO and China Steel we have great partners that believe in the project and value long term relationships.”