10 Year Anniversary of Roy Hill – Speech by Mrs Gina Rinehart AO
Executive Chairman Speech
Good evening and a very warm welcome to my family’s home. It looks extraordinary tonight in vivid pink! We have had quite a few occasions together here over the years, apologies I can’t be with you there tonite.
We have celebrated the 10 years of Roy Hill operations through an event held last December at our mine , on the day the “anangel explorer “ sailed from Port Hedland with the first Roy shipload for Posco, now 10 plus years ago, plus multi customer events. Tonight is extra special, as we celebrate with our partners joining us from overseas, and with many of you who have worked with us for those 10 plus years.
Without you, this mega project would not be possible.
Please join me in very appreciative applause.
My 10 year speech will be appearing on the screen, I had arranged to be able to do on an ore ship, especially to mark the occasion, but I don’t seem to be in luck with being able to attend these 10 year functions!
I am looking forward to welcoming our ten plus year employees on stage soon, and later this evening for our unique ten years raffle!
We have tonight a pro Australia theme, we’re trying to do our bit to make Australia strong and proud. The journey of Roy represents the best of the Aussie spirit. A mega mine and infrastructure project that defied all naysayers and naydoers, and was brought to life through those true blue values of hard work, persistence and determination, to become the globally significant operation that now contributes so strongly to our country and our living standards. You may be disappointed if I didn’t repeat my usual saying , “when mining does well, so does Australia. But when mining doesn’t do well, nor does Australia. “
Next week, we will honour on Anzac Day the incredible patriotism, courage and sacrifice of our past and present military in defending our country and safeguarding the freedoms we enjoy .
We have been an exceptionally fortunate nation, enjoying freedom for 125 years thanks to our military. As we look around the world, very very few countries have been able to enjoy so many years of peace and freedom.
Please join me in huge thanks and applause for our veterans.
HPPL Hancock Agriculture and Hancock Iron Ore are again holding and financially supporting ANZAC Day services across our sites and across Australia.
I will again be in Sydney for the Anzac eve service, adjacent the opera house, right near circular quay where many Anzacs boarded, pre eventually leaving our shores from Albany and Fremantle.
The ANZAC spirit is not only history. It is a responsibility. And that responsibility is now ours. It is now yours and mine.
Roy Hill is not just a mine, it is an economic powerhouse – one that has supported businesses, regional towns and livelihoods in the north and across Australia.
Many outside the mining industry wouldn’t have any concept of the years of work it takes to develop, and many in the media would have you believe the government hands you a mining licence and like magic, money flows with little work or risk .
As you would know, Nothing could be further from the truth.
It’s rare a chairman is able to be with a project from its early exploration, all the way through its years of studies , many years of approvals, financing and into a productive, world class, multi award winning mega project and tonight, thanks to you, we celebrate a decade of operations. I couldn’t be more proud of what we have achieved together.
Please give yourselves a pilbara rousing round of applause.
Senior executives from our much valued equity partners POSCO, Marubeni and China Steel have travelled to Australia to join us tonight. I sincerely and warmly thank them. You are truly wonderful partners.
The risk was real. Those closely involved know of the setback with the preparation plant and that we were only weeks away from running out of equity money.
Please join me in roaring applause for POSCO , Marubeni and China Steel and their countries exims.
It’s easy to look at the roaring success Roy is today and not think of the immense challenges we faced.
It was not an easy path, the project was too big for our then small company. For all of the journey from its earliest days, camping in sleeping bags with the beautiful stars overhead, amidst the not so beautiful mossies! money was scarce, we didn’t have the big boys budgets, I’ve been extra fortunate to have an honest and trustworthy ally , Taduez Watroba. Tad, please take the stage. Sanjiv, Garry and Gerhard, please join Tad too.
Tonight, I want to especially recognise our Tad, who has always stood by me through thick and thin, a hell of a lot of thin … but despite the many difficult times, has always remained loyal and strong.
Please join me in very warm applause for our dear Taddie.
During construction another man stands out, a man who was across every detail, knew our project from end to end, and treated it like his own. He pushed to drive the milestones required. Tad and I were very fortunate to have an outstanding project director, who became chief operating officer, Sanjiv Manchanda. You should have seen our Sanjiv in Roy board meetings, no matter what question was asked, Sanjiv was the one who knew the answers, in detail!
Please join me in very enthusiastic applause for our Sanjiv.
Of course prior to being able to finish building our Roy project , we needed the debt finance, heading that team, with assistance from hppl, was then, cfo, Garry Korte. 2 years of late nights, even tears I’m told at times, and Garry and the finance team, achieved the largest mainland part green fields debt financing in the world, which record I’m told has since not been broken. What an effort, what an achievement to be proud of always.
Thank you Garry and the debt finance team.
Please join me in record applause for Garry and the debt finance team.
Running a mega operation of Roy’s size and the increasing difficulty of increasing government , requires dedication, commitment and exceptional leadership. I want to thank our CEO Gerhard . Gerhard, I’m very fortunate to work with you, thank you.
Please join in great applause for our Gerhard. And his exec team.
We should never take for granted how fragile and essential our mining and primary industry is . Just one example , Australia used to be around 96 percent fuel sufficient, excessive tape, excessive approvals, be that labor or coalition, the Paris agreement, the unreliable , expensive net zero we cannot afford, has changed this so that we are now forced to rely on about 96 percent of our fuel from overseas. This is not the petrol stations fault, it is not even the recent Iran war, it is successive governments who have caused us to become around 96 percent dependent on overseas fuel, and have not even spent the money we should have on creating fuel reserves, as stipulated by the International Energy Agency (IEA).
Excess bureaucracy not familiar with industry, ideological policies, weak governments and green fantasies driven by those who don’t want to understand this deters the investment that creates jobs, supports related businesses, creates opportunities, pays for essential services and charities, and maintains the living standards of Australians .
All Australians should be concerned, given that the mining industry contributes more revenue than all other businesses and industries combined. The irresponsible policies of both labor and the coalition increasingly against our industry, is seeing investors increasingly focus their investments overseas, which decisions will effect Australians future, and our already record debt.
We need more, not less mines if we want to maintain the standard of living of Australians, and retain the revenue streams that fund our hospitals, Medicare, nurses, defence, police and pensions. Please don’t encourage any pollies who don’t value our essential industry and the livelihood of Australians.
Again, a heartfelt thank you to every single person who has contributed to Roy’s success.
Please enjoy the evening and please be very proud of what we have achieved.
