Gina Rinehart's Roy Hill mine saved - iMINCO Mining Training Information

Gina Rinehart’s Roy Hill mine saved

iMINCOGina Rinehart’s Roy Hill project has found a solution to the problems created when mining services firm Forge Group collapsed.

The massive iron ore mine, currently under construction in the WA Pilbara, is once again back on track as investment cash flows in.

The major construction partner on Roy Hill, Samsung C&T  originally sub-contracted the $1.47 billion contract out to Forge and Duro Felguera in December 2013.

This was Duro Felguera’s first big contract in Australia, however it quickly turned into a fiasco when Forge fell into the hands of the administrator.

“Samsung taking up the slack”

The contract to build a processing plant for the massive Roy Hill iron ore project, was terminated last week, although the Spanish company indicated it had been allowed to complete the work owing to a new agreement with Samsung. The new deal would involve Samsung taking up the slack that the collapse of Forge Construction created.

Samsung made a public statement to the fact that the Roy Hill mining project works were under control and things were moving forward as per schedule.

“thousands of mining jobs have been created”

Iron ore exports from the Roy Hill mine are scheduled for late 2015, so the race is on to get the construction schedule back on track, which involves building the sophisticated mine and associated infrastructure, railway network, a runway, camp and accommodation facilities and port loading facilities.

Thousands of mining jobs have been created at the remote Pilbara mine site, where an expected 55 million tonnes of iron ore will be mined each year.

In order to finance the mine, there remains the issue of the $US7 billion debt package, which is still to be locked in – although current indications point to the finance deal being finalised before the end of February.

Japanese company Marubeni, which is a joint venture partner in Roy Hill would be the main financiers, with additional benefactors being BNP Paribas and the National Australia Bank.



Mining Information - Helping ordinary Australians discover how to get the right mining training and career

Click to view other jobs in these categories:

Email this article to yourself for future reference

Add your email address and you can send it to your email in-box

Email *  

The links below are related, you may find them helpful in your mining research on : 'Gina Rinehart’s Roy Hill mine saved'.

All trades Shutdowns Darwin Pro Active Recruitment
2017 - PROACTIVE RECRUITMENT Techforce's clients have scheduled regular shutdowns across BHP, FMG, ...
Iron ore prices reach two and a half year high giving mining jobs added security
In more good news for the industry, iron ore prices have surged past US$90 a tone for the first time...
Roy Hill mining jobs WA for 2017
Roy Hill Workforce to increase by 40 percent The Roy Hill mine in Western Australia's Pilbara regi...
Western Australia iron ore mining jobs boom in 2017 predicted
Iron ore mining jobs boom in 2017 - don't miss it! Billions of dollars of investment expected Aust...
Roy Hill iron ore mine starts production
Iron ore mining commences at Roy Hill mine in Western Australia Roy Hill is famous for two thi...
Roy Hill jobs – 1000 WA careers
You may have heard of Gina Rinehart, the WA mining magnate who attracts media attention for all th...
Roy Hill – iron ore mining commences
Gina Rinehart will be excited this week because her Roy Hill mine in Western Australia has already s...

If you haven't got time to read the related items for "Gina Rinehart’s Roy Hill mine saved", no problem, send yourself a reminder email with a link to the stories so you can read them later.

Name *
Email Address *
 

0 Comments

Leave a reply

Your email address will not be published. Required fields are marked *

*