Red Hill Iron Limited (AU:RHI) has released an update.
Red Hill Iron Limited has announced the receipt of its first royalty payment from Mineral Resources Limited for the Onslow Iron Project, marking the start of commercial production. The payment reflects ore shipments for the quarter ending June 2024, with the project expected to reach full capacity by mid-2025. The project benefits from a joint venture with Baowu, the world’s largest steel company, ensuring a long-term offtake partnership.
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