Roy Hill boss still confident on 2015 deadline

The boss of Gina Rinehart's Roy Hill mine says the project is on track to ship iron ore by 2015, and Hancock Prospecting has “no reason to change that plan”.

AAP reports Roy Hill chief executive Barry Fitzgerald told a Perth conference that while market conditions were getting tougher, development of the mine had not been delayed.

 

“There are clearly challenges. There are challenges in the process all the way through,” he said.

 

Previous speculation has hinted the project has faced rising costs and trouble over securing financial backing.

 

Fitzgerald said while all the funding had not yet been secured a new engineering, procurement, and construction contract would soon be awarded because of confidence a deal would soon be struck.

 

Roy Hill officials previously aimed to secure all funding for the mine by early this year, but despite ongoing speculation the company remains confident in its ability to meet the main deadline.

 

Late last year the contract for construction of a new rail line for Roy Hill was deferred, and Macmahon Holdings cited the decision as a sign of weakness in the sector.

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