Mrs Rinehart, then and currently HPPL’s Chairman, visited the Pilbara together with Richard Paquay, Chief Geologist. They landed at Newman and made their way by vehicle to Roy Hill.
Exploration licences – 46/334, 46/335 and 46/336 were granted to HPPL
1993 – 2010
Exploration drilling and prefeasibility studies undertaken. The prefeasibility study and bankable feasibility study (BFS) demonstrated the Roy Hill project was robust.
HPPL welcomed the investment by POSCO Group and STX into the project, following earlier execution of a Term Sheet then cooperation agreement. Through this initially small transaction, funding to complete the then almost completed BFS, plus early dredging works in the Port Headland harbour was secured.
Equity agreements finalised with POSCO, Marubeni Corporation and STX Corporation who between them acquired 30% equity interest in the Roy Hill project. This equated to the companies holding an equity interest of 15%, 12.5% and 2.5% respectively, whilst allowing POSCO to reduce to 12.5% to enable another steel mill, China Steel Corporation, to acquire a 2.5% equity stake. In July 2012, Marubeni Corporation increased its stake in the Roy Hill Project to 15% though the acquisition of STX Corporation’s 2.5% holding.
28 March 2013
Following an extensive tender process Samsung C&T were awarded the A$5.59 billion Engineering, Procurement & Construction contract to build the Mine, Rail & Port infrastructure for the Roy Hill project.
20 March 2014
A$7.97 billion financing package secured for the Roy Hill project.
30 April 2014
First ore mined from the Roy Hill Mine by mining contractor Downer EDI.
1 September 2014
A significant milestone realised in the life of the Roy Hill Project, with the first official owner/operator mining taking place at the Roy Hill Mine.
20 November 2014
Construction at Roy Hill advances past the two thirds completion stage. The project is tracking ahead of schedule and in a good position to potentially deliver first ore on ship well within the scheduled timeframe of September 2015.
10 December 2015
Roy Hill loads its first shipment of ore for export.