Hope Downs State Agreement

Hope Downs State Agreement

They say hope is springing up forever, and from what they say, Hope Downs is turning to optimistic times in the wake of record iron ore prices and covid 19 conditions. “The VA has gone from an inhumane handout state that could not support itself to one that supports other states.” This created a problem for the Hope Downs project, including its title, because the state agreement provided that the Hope Downs project had to submit a development proposal in a timely manner or would have to violate the state agreement and that it was in deficit. Following successful arbitration proceedings and difficulties in accessing Port Hedland (the port chosen for Hope Downs at the time), Kumba/Anglo was replaced by Rio Tinto Iron Ore on July 1, 2005, when the company announced an agreement for the conclusion of Hope Downs Joint Venture (HDJV), a 50/50 joint venture between the two parties. After a successful arbitration, and the government imposed difficulties with access Port Hedland (the port chosen at the time for Hope Downs), on July 1, 2005 Kumba / Anglo was replaced by iron ore Rio Tinto, when the company entered into an agreement to conclude the Hope Downs Joint Venture (HDJV), a 50/50 joint venture between Hope Downs Eisenerz (HDIO) and Rio Tinto Eisenz. The inclusion of another partner involved an additional selection process and a lot of work, including a complete overhaul of the draft development proposal, against the difficult time constraints imposed by the State Agreement if a financially viable development proposal was not presented on 30 June or before 30 June. “I hope that everyone who has participated in this process is proud of our industry and our contribution to Pilbara and our state that Hope Downs is making. Hope Downs 4 had a capital cost of approximately $1.2 billion. Rio Tinto provided an additional $425 million to connect the mine to existing rail, electrical and port infrastructure. Marra Mamba Iron Formation is divided into Mount Newman, MacLeod Member and Nammuldi Member. The top of Mount Newman is 65m thick at Hope Down and is home to a great mineralization.

The lowest member of Nammuldi is 109 m thick at Hope Downs and consists of fewer iron ore deposits. . “I am pleased that the Baby Hope Mine is contributing to the future success of Hope Downs.” Iscor then unbundled, a process in which a company with several different activities maintains core business while selling assets, product lines, divisions or subsidiaries. After the success of this first mine, a year later, further investment led to the start of the second major mine, Hope South, which increased production capacity to about 31 mtpa. Tad Watroba, Managing Director of HPPL, which has been involved in the Hope Downs project since 1991, said that the opening of a new mine has always been the result of a considerable effort and hard work by a human team. In October 2018, Rio Tinto and Hancock Prospecting began developing the Baby Hope storage site, the fourth open pit mine in the Hope Downs project.

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