Roy Hill Holdings signs first Chinese sales agreement
Roy Hill Holdings has signed its first sales contract in China with Shougang International to provide iron ore from the Pilbara mine in Western Australia.
The Pilbara site is expected to produce 55 million tonnes of iron ore a year, starting in the final quarter of 2014.
Roy Hill had already promised to provide 16.5 million tonnes to its equity partners, Korea's Posco and STX Corp, Japanese conglomerate Marubeni and Taiwan's China Steel Corporation, reports the West.com.
The Shougang deal, signed in Beijing, the first with a Chinese steelmaker, is understood to be smaller than those with the Roy Hill equity partners.
Speaking to the West.com, a spokesman for Roy Hill would not confirm or deny the existence of the Shougang agreement, but the company has posted pictures of a signing ceremony involving Shougang officials.