Foreign firm trims NT stockpile
Vietnam's biggest steel manufacturer will soon receive shipments of iron ore from its mine in the Northern Territory.
Last year, Hoa Phat Group received approval from Australia's Foreign Investment Review Board (FIRB) to buy the Roper Valley iron ore project, which it will use to truck ore more than 500 kilometres to the Darwin Port for export.
The Acting CEO of Darwin Port, Peter Dummett, says the company's first shipment is due later this month.
“This mine was initially developed by Sherwin Iron and Hoa Phat have now purchased that mine, which included about 300,000 tonnes of ore already stockpiled there,” he said.
“So we've got a number of trucks coming in each day with the product and it's good to see it coming in.
“Hoa Phat is the largest steel producer in Vietnam, so this product is going to its steel mills - it's not for on-selling.”
The company is reportedly aiming to shift the entire 300,000-tonne stockpile by the end of this year.
“Hoa Phat have their own vessels and will probably move this in five shipments,” he said.
Currently, ore is being transported entirely by road to the port, but the company plans to use the rail line to Darwin in future.
Hoa Phat Group is also working through the necessary approvals to restart mining, saying the mine has estimated reserves of 320 million tonnes and a mining capacity of 4 million tonnes per year.
“Hoa Phat Group is continuing to research to invest in purchasing some 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,” it said.
“The group is also studying to buy some Australian coking coal mines in the future to gradually become self-sufficient in this important production material.”
Locals along the transport route say they have noticed increased traffic and iron ore dust.
Greg Dickson, who works in the remote community of Ngukurr, has told the ABC that locals are not seeing any benefits from the mine.
“What I find frustrating is I don't see people here being aware, or knowing what's going on, and I'm seeing absolutely nil benefits to the community here,” he said.
“I just think it's disgusting that you can have miners getting wealthy off natural resources and, within the vicinity, there's a community [like Ngukurr] with people in poverty.
“There should be investments made so that everyone gets to share in the wealth that's coming out of the ground.”