Roy Hill closer to mine financing deal - iMINCO Mining Training Information

Roy Hill closer to mine financing deal

iMINCO Roy Hill closer to Pilbara financing dealThe giant Roy Hill iron ore mine, which is under the guidance ofGina Rinehart, could secure its financing arrangements within a couple of weeks.

Japanese-based joint venture partner Marubeni Corp was said to be happy with the iron ore mine site’s construction progress.

Chief financial officer forMarubeni Yukihiko Matsumura said the $8 billion financing package could be ‘done and dusted’ as early as February. This was prompted by the release of the Roy Hill latest earnings update, according to US finance experts Bloomberg.

A Roy Hill spokesman said that headway was being made at the remote Pilbara iron ore mine site, but there was still work to be done.

The Roy Hill mine development project received around $2 billion in funding in December 2013 from Korean and American import-export banks, with the National Australia Bank, BNP Paribas, Mizuho, Sumitomo Mitsui and Mitsubishi UFJ being among the private sector lenders who are assisting in allowing the project financing to close.

Construction of Roy Hill has been steady over the past few months as almost 2000 workers labour to create one of Australia’s largest iron ore mines with an expected capacity of some 55 million tonnes of iron ore processed per year.

iMINCO Mining Information Training Recruitment

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 world’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 Queensland’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

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 MineStar™

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.

Find out more about RII Competencies here

You can transfer your nationally recognised civil Excavator, Front End Loader or Dozer tickets only to RII Black Coal Competencies.

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