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Vietnam steel maker Hoa Phat acquires Australia's Roper Valley iron ore mine

HANOI, May 31 (Reuters) - Vietnam’s steel maker Hoa Phat said on Monday it has acquired the Roper Valley iron ore mine project in Australia, marking the company’s first step to secure its own supplies in the world’s biggest iron ore producer.

The project is estimated to have 320 million tonnes of reserves, with mining capacity at four million tonnes per year, Hoa Phat said in a statement. A Hoa Phat spokesperson declined to disclose financial details, citing a confidentiality agreement. (Reporting by Phuong Nguyen Editing by Ed Davies)

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