Hope Downs State Agreement
Roy Hill is headquartered in its state-of-the-art Remote Operations Centre (ROC), adjacent to Perth International Airport. The project, based in North Yorkshire, UK, includes the construction of a new mine, the construction of a 37 km underground conveyor system, the development of a state-of-the-art granulation facility and the modernisation of port facilities. The initial production capacity is 10 million tons per year (Mtpa), with the potential to reach 20 Mtpa in subsequent development phases. This caused a problem for the Hope Downs project, including its title, as the state agreement provided that the Hope Downs project had to submit a funding development proposal in a timely manner or violated the state`s agreement and was subject to default and loss. Following successful arbitration and government difficulties in accessing Port Hedland (the port then chosen for Hope Downs), Kumba/Anglo was replaced by Rio Tinto Iron Ore on July 1, 2005, when the company announced an agreement to enter into the Hope Downs Joint Venture (HDJV), a 50/50 joint venture between Hope Downs Iron Ore (HDIO) and Rio Tinto Iron Ore. The participation of another partner required an additional selection process and a lot of work, including a complete overhaul of the draft development proposal, against the difficult time pressure imposed by the State Agreement if a financially viable development proposal was not submitted on or before 30 June. BIF contains hematite and goethite with deposits of high-grade iron ore and impurities of low-grade silica, phosphorus, carbonate, magneto and hornstone. Note: The link to this page has been updated for law_a392.html. The joint venture (JV) partners intend to equip 28 existing dump trucks at Hope Downs 1 with an autonomous transportation system (AHS) by 2020. The upgrade also includes the addition of a three-shaft Autonomous Drilling System (ADS) at the Hope Downs 4 mine. Ausroad Systems designs, manufactures, distributes and contracts specialized road maintenance.
The Baby Hope deposit will further strengthen the production capacity of the Hope Downs 1 operation while creating new jobs. After the success of Hope 1 North and South, Hope Downs 4 (which had been successfully completed by Hancock before Hancock`s participation in Rio Tinto Iron Ore) was then developed and began production in 2013. Hope 4 is an iron ore deposit hosted by Brockman located approximately 30 km north of Newman, with a reserve of 162 million tonnes (as of 2016) and currently offers a production tonnage of approximately 15 million tpa. This project will provide a new natural product that aligns with Hancock`s long-term investment in agriculture and will provide a valuable product to many Australian farmers. Some of its products will also be available for Hancock`s agricultural interests. After all, Roy Hill is undoubtedly a market leader and pioneer in the iron ore industry, having received numerous industry awards including: The mine currently produces 31.4 Mtpa of iron ore from open pit mines. The Hope Downs Project, which is expected to have a mine life of 20 years, includes the Hope 1, Hope 2, Hope 3, Hope 4, Hope 5 and Hope 6 mineralized zones. Mining is currently carried out at Hope 1 and Hope 4. Roy Hill celebrated his first iron ore shipment from Port Hedland on December 10, 2015 and has since loaded tens of millions of tons of shipments to key markets in Japan, Korea, China and Taiwan. As of March 2017, the Hope Downs 1 mine contained approximately 238 Mt of proven and probable reserves grading 61.5% fe. The reserves also include the values of the Hope Downs 1 South West mine.
The first production of the first Hope Downs mine worth A$1.3 billion was carried out in November 2007 with the first ore balustrade via the new Lang Hancock Railway (named after Lang Hancock) in Dampier before Christmas 2007. The Hope Downs 4 mine produced one millionth per tonne of ore in Q3 2013. It transforms high-grade, phosphorus-rich Brockman ore (HPB) into pieces and fine products. It plays a central role in Rio Tinto`s goal of achieving a production capacity of 330 Mt per year in the Pilbara region by 2015. The two mines produced 46.9 million tonnes of ore in 2017. Following the success of this first mine, further investments enabled the commissioning of the second large mine, Hope South, a year later, bringing production capacity to approximately 30 million tonnes per year (Mtpa). Hope Downs North and Hope Downs South are both primarily Marra Mamba deposits and are different deposits that are part of Hope 1. The main elements of the proposal are as follows: Hope Downs 4 contains proven and probable ore reserves estimated at 147 million tonnes, valued at 63.2% Fe. These properties include large areas of highly promising geological formations, including the Marra Mamba Iron Formation, home to the low-phosphorus iron ore also found at Roy Hill. Rio Tinto awarded two $184 million contracts in August 2011 to develop Hope Downs 4. A joint venture between Leighton Contractors and Ngarda Civil and Mining has been awarded the first $104 million contract to carry out earthworks at the mine.
The second contract, valued at $80 million, was awarded to a joint venture between Pilbara Logistics and Cimeco for the construction of mining support facilities. Two Hitachi EX5500 buckets, one Hitachi EX3600 bucket, three Komatsu WA1200 wheel loaders, three Komatsu WA900s, one Komatsu WA500 wheel loader, one Hitachi EX1200 excavator and one Hitachi EX1900 excavator were used in the digging process. G&G Mining is a specialist in design, manufacturing and repair. Hope Downs 4 had a cost of capital of about $1.2 billion. Rio Tinto provided an additional $425 million to connect the mine to existing rail, electrical and port infrastructure. Roy Hill also marked the largest trade deal ever reached between Australia and South Korea in history. Roy Hill had to obtain more than 4000 permits, permits and regulatory licenses before construction with all the associated costs, delays and risks. Roy Hill secured the world`s largest debt financing package for a primarily new mining project from nineteen of the world`s largest banks and five export credit agencies and gained international recognition. Orway Mineral Consultants (OMC) focuses on sizing all aspects of. This flagship project is majority owned by Hancock Prospecting (70%) with minority partners Marubeni Corporation (15%), POSCO (12.5%) and China Steel Corporation (2.5%). Hamersley HMS Pty Limited (the proponent) is proposing to develop two new above-ground iron ore (AWT) mines in the Hope Downs 2 proposal, which is located approximately 80 km northwest of the Municipality of Newman in the Pilbara region of Western Australia.
Hancock Prospecting has an exploration team dedicated to exploring its iron ore deposits in the Pilbara. The formation contains rocks from the Archaic and Paleoproterozoic. It was mineralized as a result of the volcanic eruption and sediment sequence of the Mount Bruce supergroup. This iron ore mine, jointly owned by operator Rio Tinto (50%) and Hancock Prospecting (50%), was operated for $1.34 billion (A$1.3 billion). The National Group is made up of leading companies in the mining industry. The plant can produce 47% ore in pieces and 53% fines. It was built in two phases. The first was designed to produce 15mtpa. The second phase increased the capacity to 25 mtpa. Processing capacity was further increased to 31.4 mtpa in 2009.
The proposal covers a conceptual footprint of approximately 4,700 hectares (ha) to support the development, operation and closure of two new AWT iron ore deposits within a proposed development framework of approximately 14,085 ha. The project has a workforce in a range of cultures and operates with an excellent record in the areas of health and safety. Maintaining these high standards and reliability for its customers are key areas of management. Doric Group has built an accommodation village and associated infrastructure for the Hope Downs 4 Accommodation Village. Kellogg Brown & Root (KBR) received a $1.3 billion Engineering, Procurement and Construction Management (EPCM) contract from Rio Tinto in September 2010 to develop Hope Downs 4. Cimeco was hired to construct mining buildings and support facilities. The development of the West Pilbara Iron Ore Project (WPIOP) was suspended in December 2015 due to low iron ore prices. Sirius Minerals is developing the world`s largest deposit of polyhalite, a rare mineral containing four (potassium, sulfur, magnesium and calcium) of the six macronutrients used in compound plant fertilizers.
The ore extracted from the mine will be transported to the processing plant by 22 Komatsu 830E and 930E dump trucks. The plant has a primary crusher, a secondary dry sieve and gravity grinding and separation systems. This report contains 12 images and tables, including: Production began in November 2007 and the first iron ore was transported by rail to the port of Dampier in December 2007 for shipment […].
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