Foreign Workers Crucial to Roy Hill: CEO
IRJ -- June 29 -- The chief executive of the Roy Hill iron ore project spoke out on the controversial enterprise migration agreement yesterday, saying foreign workers were crucial to the project winning the confidence of potential financiers.
Speaking at a conference in Perth, Barry Fitzgerald emphasized that for the Pilbara project to meet the 2014 target date for first iron ore shipments, Hancock Prospecting, the project's parent company, must raise AU$6 billion in debt financing.
Labour shortages have long dogged the Australian resources industry, and the CEO termed the EMA “a risk management strategy” designed to stem the fears of would-be investors.
“It’s something we need to do, to put in place, to convince the financiers that we have a total solution, not a part solution.”
The project, in which Hancock holds a 70% stake, is estimated to need 8500 workers over the life of the project, with a peak workforce of 3500 at any one time.
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