Gina 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.
Learn more about the Bowen Basin mining location.
The Bowen Basin contains the largest coal reserves in Australia. This major coal producing region contains one of the worldâ€™s largest deposits of bituminous coal.
The Basin contains much of the known Permian coal resources in Queensland including virtually all of the known mineable prime coking coal. It was named for the Bowen River, itself named after Queenslandâ€™s first Governor, Sir George Bowen.
The Bowen Basin covers an area of over 60,000 square kilometres in Central Queensland running from Collinsville to Theodore and is dotted with many coal mines operated by multiple mining companies.
Caterpillar Haul truck 793
The 793F has a load cpacityof 226.8 ton (US) and a top speed of 60 kilometres an hour. It's a turbocharged air-to-air aftercooled diesel engine that has enhanced power management capability for maximum hauling performance. The C175-16 is a 16-cylinder, four-stroke design that uses long, effective power strokes for optimum efficiency.
The 793F, is an autonomous-driven truck. Over 100 793F trucks are now operating via Command for hauling, the Cat autonomous truck operations system, which is a part of Cat MineStarâ„˘
Read more about the CAT 793 automomous mining dump truck on our website.
Resources and Infrastructure Industry (RII)
Commonly refered to as Black Coal Competency (BCC), the RII competency is one that can be attained by an operator who has previously worked in the industry and has completed a number of operating hours on various types of machinery.
RII competency is granted to prove correct and safe operation of mine site machinery. It is a very useful qualification to have, as it confirms the operator has the required experience and expertise.
You can transfer your nationally recognised civil Excavator, Front End Loader or Dozer tickets only to RII Black Coal Competencies.