Red Hill Iron Limited (AU:RHI) has released an update.
Red Hill Iron Limited has announced the successful first shipment of iron ore from the Onslow Iron Project, triggering a $200 million payment from Mineral Resources Limited and the start of a 0.75% FOB royalty revenue stream. The project, which is expected to reach an annual production capacity of 35 million tonnes by June 2025, promises to benefit shareholders and support the company’s exploration activities. Red Hill Iron Limited remains involved in extensive exploration work outside the Onslow Iron Project, signifying ongoing growth and potential.
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