The Roper Valley iron ore mine is estimated to have 320 million tonnes of reserves
The acquisition marks Hoa Phat s official foray into the world largest iron ore supply market. Australiaâs Foreign Investment Review Board (FIRB) has approved the deal.
Accordingly, the Roper Valley iron ore mine project is estimated to have 320 million tonnes of reserves, with a mining capacity of four million tonnes per year.
Hoa Phat will continue to research purchasing other new iron mines in Australia to ensure a long-term supply of at least 50 per cent of its iron ore demand (equivalent to 10 million tonnes a year).
Property experts say a rush of people and property buyers will come as soon the government eases border restrictions, which have caused the first population declines in a century