Roy Hill Holdings Australian company will develop Roy Hill Iron Ore Mine in Australia
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Roy Hill Holdings to develop iron ore mine in Australia

12:02 PM, 24th March 2014
oy Hill Holdings Australian company

WELSHPOOL DC, AUSTRALIA: Roy Hill Holdings Pty Ltd (RHH), an Australian company jointly owned by Marubeni Corporation, Hancock Prospecting Pty Ltd, POSCO and China Steel Corporation, with Marubeni holding a 15 per cent stake, signed a $7.2 billion project finance contract for the development of the Roy Hill Iron Ore Mine in Australia on 20 March 2014.

The Project is developing a world class, low cost, fully integrated open pit mine, accompanied by rail and port facilities and will deliver 55 metric tonne per annum of high quality iron ore lumps and fines to the global seaborne iron ore market. The expected high grade iron ore products from this mine are much anticipated from steel mills including those in Japan. Marubeni will continue to support RHH for its stable iron ore supply.

This project finance contract has been signed with a consortium of export credit agencies (Japan Bank of International Cooperation, Nippon Export and Investment Insurance, Export-Import Bank of Korea, Korea Trade Insurance Corporation, and the Export-Import Bank of the United States) and international commercial banks. RHH completed the arrangement of the financing for the full amount of the development cost of the Project by signing this contract.

 

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