Vietnam’s greatest steelmaker established to import iron ore from its new mine in the Northern Territory

Vietnam’s major steel manufacturer is acquiring all set to import iron ore from its new mine in the Northern Territory. 

Hoa Phat Group gained acceptance from Australia’s International Financial commitment Critique Board (FIRB) to buy the Roper Valley iron ore project last year and has now started trucking ore more than 500 kilometres to the Darwin Port for export.

The Acting CEO of Darwin Port, Peter Dummett, said the firm’s initially cargo was thanks out later this thirty day period.

“This mine was at first produced by Sherwin Iron and Hoa Phat have now purchased that mine, which integrated about 300,000 tonnes of ore previously stockpiled there,” he claimed.

“So we’ve obtained a amount of vehicles coming in each individual day with the products and it truly is fantastic to see it coming in.

Mr Dummett explained the company was aiming to export the 300,000-tonne stockpile by the end of this 12 months.

“Hoa Phat have their very own vessels and will probably transfer this in 5 shipments,” he claimed.

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Iron ore vans hit the street

Mr Dummett said the ore was at this time remaining transported solely by road to the port, but the firm’s prolonged-time period approach was to use the rail line to Darwin.

The ABC understands the organization is still functioning by the important approvals to restart mining. 

Greg Dickson is effective in the distant local community of Ngukurr, about 50 kilometres from the mine, and explained individuals were noticing the elevated targeted traffic and iron ore dust.

“About six months in the past, we started off viewing the huge iron ore street trains likely up and down the Roper Freeway,” he reported.

“And it truly is only been six months, but you can see where by the vehicles occur onto the Roper Highway, it can be clear to see wherever the iron ore dust is spilling out on to region and it’s turning extremely red in patches.”

Mr Dickson said the community of Ngukurr was not seeing any rewards from the mine.

“I just consider it really is disgusting that you can have miners getting rich off purely natural sources and, inside of the vicinity, you will find a neighborhood [like Ngukurr] with individuals in poverty.

“There should be investments designed so that every person receives to share in the wealth that’s coming out of the floor.”

Aiming to buy far more mines

In its push launch about buying the Roper Valley iron ore challenge, Hoa Phat Team mentioned the mine experienced estimated reserves of 320 million tonnes and a mining ability of 4 million tonnes for each year.

The corporation stated it was hunting to purchase much more Australian mines to offer raw products to its mills in Vietnam.

“Hoa Phat Team is continuing to study to invest in purchasing some other new iron mines in Australia to make certain a extended-time period offer of at the very least 50 for every cent of its iron ore demand — equivalent to 10 million tonnes a calendar year,” it mentioned.

The business mentioned it made 780,000 tonnes of crude metal in May possibly this 12 months, which was up 16 for every cent above the exact period past yr. 

Hoa Phat Team was contacted for more comment about its future shipments of iron ore from the Northern Territory but has not responded.

The firm is also Vietnam’s most significant importer of live cattle.