Australia-based miner Hancock Prospecting has announced that the federal government has approved its McPhee iron ore project in the Pilbara region, following several years of environmental and regulatory delays.
Accordingly, the $600 million project, which was initially expected to open in 2023, is set to produce 10 million mt of crushed ore per year, with the first ore scheduled for the financial year 2025-26. The ore will be transported from the McPhee mine to Roy Hill, where it will be processed and blended, and then be exported through existing port and rail infrastructure.
The lifespan of the project will be about 15 years.
