Roy Hill 1
The Roy Hill 1 Project is located approximately 277 kilometres due south of Port Hedland and is at the eastern end of the Chichester Range. HPPL first explored this area after the initial ground party lead by Mrs Rinehart and Chief Geologist Richard Paquay in 1992 and has held a total of five tenements collectively referred to as Roy Hill 1 since 1993.
The Roy Hill 1 Project is a giant size, low phosphorus Marra Mamba iron ore deposit located in the Chichester Ranges of the Pilbara region of West Australia. The deposit has more than 2.4 billion tonnes of low phosphorous iron ore resources. It is located in one of the worlds premier iron ore provinces with current annual exports out of the region of more that 300 mtpa. Exploration by RHIO has defined more than 2.4 billion tonnes of low phosphorus iron ore at indicated and inferred Joint Ore Resources Committee (JORC) classification levels.
HPPL completed PFS study on the Roy Hill 1 Project in late 2008. This study demonstrated that the project was extremely robust. Bankable feasibility study work has commenced and this study is expected to be concluded in October 2010.
In January 2010 HPPL welcomed the Posco consortium (Posco being the world’s third largest steel producing company) into the project. Through this transaction funding to complete the BFS study and early dredging costs was secured, as was a right for Posco to earn up to a 15% stake in the Roy Hill 1 project.
As at the end of 2009, HPPL had invested in excess of A$100 million on Roy Hill 1 exploration and studies and undertaken over 431147 metres of drilling.
JORC Compliant Resource
|Roy Hill 1 Resources|
|Roy Hill 1||Indicated (Mt)||Inferred (Mt)||Total (Mt)|
|50 - 55% Fe||0||1,255||1,255|