Roy Hill marks 10-year milestone with partners
Roy Hill and parent company Hancock Prospecting are delighted to celebrate 10 years in partnership with our financing and equity partners POSCO, Marubeni and China Steel Corporation (CSC).
These major international companies placed their commitment in the Roy Hill project, record debt financing was arranged, and spent their equity monies ahead of such debt financing, a rare entrepreneurial move for a mega project, and with significant risk.
At the time of the joint venture agreement, Roy Hill made history as one of the most significant projects for its time, winning many awards.
Roy Hill Executive Chairman Gina Rinehart AO said Roy Hill was a fantastic example of how major investment can create not only revenue for our country, but also employment, training and many other benefits and opportunities.
“It’s a mega project which at times we thought may not happen,” she said.
“We are very fortunate our partners proceeded to invest in our project – It represented a massive vote of confidence in our hardworking, then small executive teams.”
“Since then, it has been a remarkable ten-year journey, one that many thousands of West Australians and Australians have contributed to, and which in turn has contributed to our state and country,”
“We are especially proud to lead the industry with our representation of women and our support for veterans.
“Our partners and everyone who has been involved in Roy Hill can be extremely proud they have built Roy Hill from a project into one of the best mining companies in Australia.”
