Mineral Resources in agreement to develop iron ore export facility in Australia

Mineral Resources Ltd., Hancock Prospecting Pty Ltd. and Roy Hill Holdings Pty Ltd. agreed to investigate the development of a new iron ore export facility at Port Hedland, Western Australia.

Mineral Resources said Nov. 29 that the project is in line with its strategy to unlock stranded deposits in the Pilbara region.

Under the terms, Roy Hill would provide development and operations services, which include rail haulage and port services. Mineral Resources and Hancock will form a joint venture to obtain necessary approvals.

The final investment decision for project development will be dependent on the results of an expedited feasibility study and a grant of capacity allocation by the Pilbara Ports Authority.