Hancock Iron Ore has released its 2025 financial year results for its Roy Hill Mine, detailing strong operational performance and a new project to extend the life of the facility.
Roy Hill Holdings reported AU$1.8 billion net profit for the full-year ending June 30. Roy Hill paid AU$599 million state royalties, taxes and native title royalties. Additionally, Roy Hill paid AU$839 million in corporate taxes. Revenue was impacted by falling iron ore prices, combined with the impact of unplanned weather downtime. However, the mine demonstrated outstanding operational discipline, strong cost control and strong performance for the full year to deliver results.
CEO Gerhard Veldsman said: “Despite significant challenges from record breaking and prolonged periods of heavy rainfall, our people responded the way they know best – by staying agile, making smart decisions, focusing on safety and cost control.
Hancock Iron Ore is developing a new project, the McPhee mine, which will extend the life of Roy Hill and ensure that Hancock Iron Ore remains a trusted supplier of iron ore in the global market. Roy Hill Executive Chairman Gina Rinehart AO said: “Our new McPhee mine is due to begin producing first ore next year.
“McPhee will extend the life of Roy Hill, a mega mine that has delivered more than AU$12 billion in taxes and royalties to governments and over AU$26 billion to suppliers across Australia over the last 10 years.”
“Development of McPhee will ensure Hancock Iron Ore remains a trusted and reliable supplier of iron ore in the global market for the long term while creating ongoing benefits for our many valued employees, business partners and contractors along with the continued flow of taxes and royalties to the government. All contributing to Australians’ standards of living.”
